Protagonist Therapeutics (NASDAQ:PTGX) Price Target Raised to $98.00 at Citigroup

Protagonist Therapeutics (NASDAQ:PTGX) had its price target upped by investment analysts at Citigroup from $96.00 to $98.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 17.75% from the company’s current price.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Leerink Partners initiated coverage on shares of Protagonist Therapeutics in a report on Friday, September 12th. They set an “outperform” rating and a $73.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $82.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Finally, Leerink Partnrs raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.23.

Protagonist Therapeutics Stock Up 4.6%

Shares of PTGX stock traded up $3.69 during trading hours on Monday, hitting $83.23. 1,161,388 shares of the company’s stock were exchanged, compared to its average volume of 1,007,925. The firm has a market cap of $5.20 billion, a P/E ratio of 134.24 and a beta of 2.21. The firm has a 50 day moving average of $68.54 and a two-hundred day moving average of $57.64. Protagonist Therapeutics has a fifty-two week low of $33.31 and a fifty-two week high of $93.25.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The company had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. On average, equities analysts forecast that Protagonist Therapeutics will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William D. Waddill sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the sale, the director directly owned 5,130 shares of the company’s stock, valued at $418,710.60. This represents a 70.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 20,000 shares of company stock worth $1,473,440. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of large investors have recently modified their holdings of PTGX. Hsbc Holdings PLC boosted its holdings in shares of Protagonist Therapeutics by 4.1% in the first quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock valued at $405,000 after acquiring an additional 330 shares during the period. Fred Alger Management LLC acquired a new position in shares of Protagonist Therapeutics in the 1st quarter valued at $362,000. Inspire Investing LLC raised its position in Protagonist Therapeutics by 106.9% in the 1st quarter. Inspire Investing LLC now owns 21,834 shares of the company’s stock valued at $1,056,000 after purchasing an additional 11,279 shares during the last quarter. Axiom Investors LLC DE acquired a new stake in Protagonist Therapeutics during the 1st quarter worth $1,933,000. Finally, Palumbo Wealth Management LLC acquired a new stake in Protagonist Therapeutics during the 2nd quarter worth $416,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.