Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $81.00 at JPMorgan Chase & Co.

Protagonist Therapeutics (NASDAQ:PTGX) had its target price hoisted by JPMorgan Chase & Co. from $68.00 to $81.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. BTIG Research reissued a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. JMP Securities upped their target price on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, Truist Financial lifted their price target on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $82.08.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded down $0.24 during midday trading on Friday, reaching $79.54. 882,282 shares of the stock traded hands, compared to its average volume of 1,586,433. The stock has a market capitalization of $4.95 billion, a P/E ratio of 128.29 and a beta of 2.22. The company has a fifty day moving average of $68.54 and a 200 day moving average of $57.48. Protagonist Therapeutics has a 12 month low of $33.31 and a 12 month high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). Protagonist Therapeutics had a return on equity of 6.78% and a net margin of 21.94%.The business had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. On average, analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of Protagonist Therapeutics stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the transaction, the director directly owned 5,130 shares in the company, valued at approximately $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,473,440. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Protagonist Therapeutics by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock valued at $206,846,000 after purchasing an additional 57,181 shares during the period. BVF Inc. IL lifted its position in shares of Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after buying an additional 636,026 shares in the last quarter. State Street Corp increased its stake in Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after acquiring an additional 500,924 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Protagonist Therapeutics by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,444,230 shares of the company’s stock valued at $79,833,000 after acquiring an additional 20,671 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Protagonist Therapeutics by 218.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock valued at $60,369,000 after purchasing an additional 748,758 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.