Protagonist Therapeutics (NASDAQ:PTGX) Sets New 12-Month High – Still a Buy?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $114.49 and last traded at $113.2270, with a volume of 1524436 shares trading hands. The stock had previously closed at $112.86.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PTGX shares. TD Cowen boosted their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Wedbush boosted their target price on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Johnson Rice restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Finally, Truist Financial raised their price target on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.21.

Protagonist Therapeutics Stock Up 3.4%

The firm has a market capitalization of $7.65 billion, a PE ratio of -65.72 and a beta of 1.85. The stock’s fifty day simple moving average is $103.21 and its 200 day simple moving average is $94.51.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. On average, analysts predict that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current year.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harold E. Selick sold 24,000 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $105.00, for a total value of $2,520,000.00. Following the transaction, the director directly owned 60,845 shares in the company, valued at approximately $6,388,725. The trade was a 28.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 217,645 shares of company stock worth $22,151,686 in the last quarter. Company insiders own 5.19% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Protagonist Therapeutics by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock valued at $1,170,000 after purchasing an additional 193 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Protagonist Therapeutics by 2.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock valued at $751,000 after buying an additional 196 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Protagonist Therapeutics by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock valued at $291,000 after buying an additional 200 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Protagonist Therapeutics by 8.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock valued at $258,000 after buying an additional 221 shares during the period. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.