Protagonist Therapeutics Inc (PTGX) Receives $25.00 Average Price Target from Brokerages

Shares of Protagonist Therapeutics Inc (NASDAQ:PTGX) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $25.00.

A number of equities analysts have recently issued reports on PTGX shares. BidaskClub raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Zacks Investment Research cut Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. Stifel Nicolaus started coverage on Protagonist Therapeutics in a report on Monday, January 29th. They issued a “buy” rating and a $32.00 target price for the company. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $42.00 target price (down from $44.00) on shares of Protagonist Therapeutics in a report on Thursday, March 8th.

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In related news, major shareholder X L.P. Canaan sold 13,155 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $20.66, for a total transaction of $271,782.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Y. Liu sold 3,500 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $21.29, for a total value of $74,515.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,617 shares of company stock worth $1,621,855. 15.50% of the stock is owned by corporate insiders.



A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Protagonist Therapeutics by 40.3% in the 4th quarter. Millennium Management LLC now owns 192,730 shares of the company’s stock valued at $4,009,000 after buying an additional 55,378 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Protagonist Therapeutics by 38.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 32,534 shares of the company’s stock worth $677,000 after purchasing an additional 9,026 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Protagonist Therapeutics by 33.1% in the 4th quarter. Teachers Advisors LLC now owns 21,593 shares of the company’s stock worth $449,000 after purchasing an additional 5,375 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Protagonist Therapeutics in the 4th quarter worth $1,202,000. Finally, Two Sigma Advisers LP bought a new position in shares of Protagonist Therapeutics in the 4th quarter worth $362,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.

Shares of PTGX traded down $0.17 during mid-day trading on Friday, reaching $8.75. The company had a trading volume of 132,173 shares, compared to its average volume of 210,158. Protagonist Therapeutics has a twelve month low of $7.85 and a twelve month high of $23.97.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, March 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.19. The company had revenue of $11.28 million during the quarter, compared to analyst estimates of $8.75 million. equities research analysts expect that Protagonist Therapeutics will post -0.66 earnings per share for the current year.

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About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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