Protagonist Therapeutics, Inc. (PTGX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) from a hold rating to a buy rating in a report published on Saturday. Zacks Investment Research currently has $19.00 target price on the stock.

According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets lifted their target price on Protagonist Therapeutics from $40.00 to $43.00 and gave the company an outperform rating in a research note on Tuesday, November 7th. ValuEngine cut Protagonist Therapeutics from a hold rating to a sell rating in a research note on Monday, September 11th. Finally, BTIG Research began coverage on Protagonist Therapeutics in a research note on Friday, July 21st. They set a buy rating and a $36.00 target price on the stock.

Protagonist Therapeutics (PTGX) opened at $16.96 on Friday. Protagonist Therapeutics has a 12 month low of $8.00 and a 12 month high of $26.36.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.40. The company had revenue of $8.78 million during the quarter. sell-side analysts anticipate that Protagonist Therapeutics will post -3.66 EPS for the current fiscal year.

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In other news, insider David Y. Liu sold 3,500 shares of Protagonist Therapeutics stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $15.00, for a total transaction of $52,500.00. Following the completion of the sale, the insider now directly owns 5,500 shares in the company, valued at approximately $82,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard S. Shames sold 2,017 shares of Protagonist Therapeutics stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $19.00, for a total value of $38,323.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,716 shares of company stock worth $169,288.

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Protagonist Therapeutics by 8.5% during the 2nd quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock valued at $188,000 after buying an additional 1,300 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Protagonist Therapeutics by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock valued at $313,000 after buying an additional 1,478 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Protagonist Therapeutics by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 101,218 shares of the company’s stock valued at $1,296,000 after buying an additional 1,850 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Protagonist Therapeutics by 60.8% during the 3rd quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock valued at $169,000 after buying an additional 3,617 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Protagonist Therapeutics by 19.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock valued at $264,000 after buying an additional 3,812 shares during the last quarter. Institutional investors and hedge funds own 39.73% of the company’s stock.

Protagonist Therapeutics Company Profile

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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