Protagonist Therapeutics (NASDAQ:PTGX) Price Target Cut to $47.00 by Analysts at JMP Securities

Protagonist Therapeutics (NASDAQ:PTGX) had its price objective cut by JMP Securities from $55.00 to $47.00 in a report released on Wednesday morning, PriceTargets.com reports. They currently have a market outperform rating on the stock.

Several other equities analysts have also weighed in on PTGX. Zacks Investment Research lowered Protagonist Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 11th. Piper Sandler lifted their price target on Protagonist Therapeutics from $53.00 to $93.00 and gave the company an overweight rating in a research note on Friday, July 30th. HC Wainwright restated a buy rating and issued a $50.00 price target (down previously from $60.00) on shares of Protagonist Therapeutics in a research note on Monday, September 20th. Northland Securities boosted their price objective on Protagonist Therapeutics from $42.00 to $47.00 and gave the stock an outperform rating in a research note on Monday, June 14th. Finally, SVB Leerink boosted their price objective on Protagonist Therapeutics from $41.00 to $50.00 and gave the stock an outperform rating in a research note on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of Buy and a consensus price target of $51.63.

Shares of PTGX stock opened at $18.81 on Wednesday. The stock has a market cap of $894.43 million, a PE ratio of -9.80 and a beta of 1.56. The business has a 50-day simple moving average of $44.05 and a 200-day simple moving average of $37.47. Protagonist Therapeutics has a 52-week low of $12.80 and a 52-week high of $50.54.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Wednesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.14). The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $5.60 million. Protagonist Therapeutics had a negative net margin of 299.39% and a negative return on equity of 30.58%. As a group, research analysts expect that Protagonist Therapeutics will post -2.53 EPS for the current year.

In related news, insider David Y. Liu sold 14,779 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $47.56, for a total value of $702,889.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth $37,933,000. Deutsche Bank AG increased its position in shares of Protagonist Therapeutics by 3,114.7% during the second quarter. Deutsche Bank AG now owns 821,722 shares of the company’s stock worth $36,880,000 after acquiring an additional 796,161 shares during the period. FMR LLC increased its position in shares of Protagonist Therapeutics by 8.3% during the second quarter. FMR LLC now owns 7,116,383 shares of the company’s stock worth $319,383,000 after acquiring an additional 545,156 shares during the period. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Protagonist Therapeutics during the first quarter worth $11,247,000. Finally, BlackRock Inc. increased its position in shares of Protagonist Therapeutics by 15.8% during the first quarter. BlackRock Inc. now owns 3,001,629 shares of the company’s stock worth $77,744,000 after acquiring an additional 409,918 shares during the period.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.

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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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