Protagonist Therapeutics (NASDAQ:PTGX) Shares Gap Up on Analyst Upgrade

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price gapped up prior to trading on Wednesday after JMP Securities raised their price target on the stock from $42.00 to $45.00. The stock had previously closed at $25.79, but opened at $27.08. JMP Securities currently has a market outperform rating on the stock. Protagonist Therapeutics shares last traded at $25.79, with a volume of 129,002 shares trading hands.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, February 28th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 14,248 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.24, for a total transaction of $459,355.52. Following the completion of the transaction, the chief financial officer now directly owns 38,397 shares in the company, valued at approximately $1,237,919.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Asif Ali sold 14,248 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total transaction of $459,355.52. Following the completion of the transaction, the chief financial officer now owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 12,975 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $31.34, for a total value of $406,636.50. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at approximately $376,080. The disclosure for this sale can be found here. Insiders sold 83,457 shares of company stock worth $2,553,328 in the last 90 days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of Protagonist Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after acquiring an additional 1,206 shares during the period. Russell Investments Group Ltd. purchased a new stake in Protagonist Therapeutics during the 1st quarter worth about $35,000. Sei Investments Co. raised its position in Protagonist Therapeutics by 12.2% in the 1st quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock valued at $1,208,000 after purchasing an additional 4,529 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Protagonist Therapeutics by 179.8% in the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after buying an additional 35,571 shares during the period. Finally, Privium Fund Management B.V. acquired a new position in shares of Protagonist Therapeutics during the first quarter worth about $3,299,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Price Performance

The stock’s 50 day moving average is $27.85 and its two-hundred day moving average is $23.92. The stock has a market capitalization of $1.66 billion, a PE ratio of 11.59 and a beta of 2.09.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39. The company had revenue of $60.00 million for the quarter, compared to analyst estimates of $60.00 million. On average, equities analysts predict that Protagonist Therapeutics, Inc. will post 1.18 earnings per share for the current year.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.