Protagonist Therapeutics (NASDAQ:PTGX) Reaches New 12-Month High – Time to Buy?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $141.50 and last traded at $142.3450, with a volume of 1279 shares trading hands. The stock had previously closed at $140.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PTGX shares. Barclays boosted their target price on Protagonist Therapeutics from $119.00 to $151.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Wedbush increased their price objective on Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Truist Financial increased their price objective on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Two equities research analysts have 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Protagonist Therapeutics Stock Up 3.0%

The company has a market capitalization of $8.89 billion, a PE ratio of -76.41 and a beta of 1.79. The stock’s fifty day moving average price is $114.88 and its two-hundred day moving average price is $100.41.

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

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares in the company, valued at $52,410,617.36. The trade was a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bryan Giraudo sold 36,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the transaction, the director directly owned 27,825 shares in the company, valued at approximately $2,786,395.50. The trade was a 56.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 161,130 shares of company stock valued at $16,355,220. Company insiders own 5.19% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC bought a new position in Protagonist Therapeutics in the fourth quarter worth about $27,000. Osaic Holdings Inc. lifted its holdings in Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares during the period. Hantz Financial Services Inc. lifted its holdings in Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after buying an additional 656 shares during the period. Finally, Canton Hathaway LLC bought a new stake in Protagonist Therapeutics during the 4th quarter valued at approximately $87,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

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.