Protagonist Therapeutics (NASDAQ:PTGX) Stock Rating Upgraded by UBS Group

by · The Markets Daily

Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) was upgraded by analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. BMO Capital Markets upped their target price on Protagonist Therapeutics from $178.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, September 1st. Citigroup increased their price target on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Truist Financial raised their price target on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wedbush raised their price target on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $154.44.

View Our Latest Analysis on PTGX

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $138.49 on Monday. The firm’s 50-day moving average is $145.94 and its 200-day moving average is $124.41. Protagonist Therapeutics has a 1 year low of $73.08 and a 1 year high of $160.81. The company has a market cap of $8.96 billion, a P/E ratio of 134.46 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics’s revenue for the quarter was up 3746.8% compared to the same quarter last year. As a group, sell-side analysts predict that Protagonist Therapeutics will post 4.22 earnings per share for the current year.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $144.10, for a total transaction of $1,048,759.80. Following the completion of the transaction, the chief executive officer owned 522,968 shares of the company’s stock, valued at $75,359,688.80. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the completion of the transaction, the chief financial officer directly owned 59,003 shares in the company, valued at $8,365,445.34. This represents a 49.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 283,629 shares of company stock valued at $41,443,786 in the last ninety days. Corporate insiders own 5.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Protagonist Therapeutics by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC boosted its stake in shares of Protagonist Therapeutics by 7.2% in the second quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after acquiring an additional 208 shares during the period. Keating Financial Advisory Services Inc. bought a new position in shares of Protagonist Therapeutics in the second quarter worth about $30,000. Allworth Financial LP purchased a new position in Protagonist Therapeutics in the 2nd quarter worth approximately $31,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Protagonist Therapeutics by 10.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,292 shares of the company’s stock valued at $288,000 after buying an additional 312 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

(Get Free Report)

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.

Featured Articles