Protagonist Therapeutics (PTGX) Downgraded by BidaskClub to “Hold”

BidaskClub lowered shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Other analysts also recently issued reports about the company. BMO Capital Markets decreased their price target on Protagonist Therapeutics from $45.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, October 19th. ValuEngine downgraded Protagonist Therapeutics from a hold rating to a sell rating in a research report on Monday, September 11th. Finally, Zacks Investment Research downgraded Protagonist Therapeutics from a strong-buy rating to a hold rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $32.67.

Protagonist Therapeutics (NASDAQ PTGX) opened at $17.57 on Tuesday. Protagonist Therapeutics has a fifty-two week low of $8.00 and a fifty-two week high of $23.65.

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

In other Protagonist Therapeutics news, insider Richard S. Shames sold 2,017 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $19.00, for a total value of $38,323.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Y. Liu sold 7,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $16.97, for a total value of $118,790.00. The disclosure for this sale can be found here. Insiders have sold 9,892 shares of company stock valued at $174,613 over the last ninety days. 15.50% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Senzar Asset Management LLC purchased a new stake in Protagonist Therapeutics in the second quarter worth $3,094,000. First Manhattan Co. purchased a new stake in Protagonist Therapeutics in the third quarter worth $293,000. FMR LLC increased its position in Protagonist Therapeutics by 0.4% in the second quarter. FMR LLC now owns 2,528,462 shares of the company’s stock worth $28,597,000 after buying an additional 10,264 shares during the last quarter. Northern Trust Corp increased its position in Protagonist Therapeutics by 24.0% in the second quarter. Northern Trust Corp now owns 98,825 shares of the company’s stock worth $1,118,000 after buying an additional 19,159 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Protagonist Therapeutics by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $313,000 after buying an additional 1,478 shares during the last quarter. 39.68% of the stock is owned by institutional investors and hedge funds.

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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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