Protagonist Therapeutics (NASDAQ:PTGX) Given New $190.00 Price Target at BMO Capital Markets

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective increased by investment analysts at BMO Capital Markets from $178.00 to $190.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 28.60% from the stock’s previous close.

A number of other research firms also recently issued reports on PTGX. Wall Street Zen raised Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. The Goldman Sachs Group upgraded Protagonist Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $186.00 in a research note on Monday, August 10th. Barclays reiterated an “overweight” rating and issued a $180.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday. TD Cowen reiterated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Finally, Truist Financial increased their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Sixteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.13.

Protagonist Therapeutics Stock Performance

PTGX opened at $147.75 on Tuesday. Protagonist Therapeutics has a fifty-two week low of $54.50 and a fifty-two week high of $160.81. The firm has a 50-day moving average of $139.16 and a 200 day moving average of $113.15. The firm has a market cap of $9.56 billion, a P/E ratio of 143.45 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm had revenue of $213.47 million for the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics’s revenue was up 3746.8% on a year-over-year basis. Equities research analysts predict that Protagonist Therapeutics will post 4.22 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $78,055,804.58. The trade was a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,000 shares of company stock worth $16,921,379 over the last three months. Insiders own 5.19% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics during the fourth quarter valued at $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Protagonist Therapeutics in the second quarter worth $30,000. Allworth Financial LP purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter worth about $31,000. Finally, Quantbot Technologies LP bought a new position in Protagonist Therapeutics in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.