Robeco Institutional Asset Management B.V. Makes New Investment in Protagonist Therapeutics, Inc. $PTGX

Robeco Institutional Asset Management B.V. purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,448 shares of the company’s stock, valued at approximately $1,472,000.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at about $162,357,000. Johnson & Johnson bought a new stake in Protagonist Therapeutics in the second quarter valued at approximately $300,220,852. Hsbc Holdings PLC raised its holdings in Protagonist Therapeutics by 1,260.9% in the second quarter. Hsbc Holdings PLC now owns 25,952 shares of the company’s stock worth $3,198,000 after purchasing an additional 24,045 shares during the period. Deutsche Bank AG acquired a new stake in Protagonist Therapeutics in the second quarter worth $17,387,000. Finally, Stempoint Capital LP boosted its position in shares of Protagonist Therapeutics by 22.1% during the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after purchasing an additional 13,147 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on PTGX. Barclays upped their price objective on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. BMO Capital Markets increased their price target on Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Wedbush raised their price target on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Citigroup raised their price objective on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $158.19.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $140.32 on Tuesday. Protagonist Therapeutics, Inc. has a 52 week low of $74.03 and a 52 week high of $160.81. The stock’s 50 day moving average price is $144.21 and its two-hundred day moving average price is $114.93. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 136.23 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm’s revenue for the quarter was up 3746.8% compared to the same quarter last year. On average, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 4.59 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dinsesh Patel sold 65,761 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. This represents a 11.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the sale, the chief financial officer owned 59,003 shares in the company, valued at $8,365,445.34. The trade was a 49.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 283,629 shares of company stock valued at $41,443,786. 5.19% of the stock is owned by insiders.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.