Protagonist Therapeutics (NASDAQ:PTGX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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. “

PTGX has been the topic of several other reports. Stifel Nicolaus upgraded shares of Protagonist Therapeutics from a hold rating to a buy rating and raised their target price for the stock from $11.00 to $17.00 in a report on Wednesday, May 8th. BidaskClub raised Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Finally, HC Wainwright set a $73.00 target price on Uniqure and gave the company a buy rating in a report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $17.17.

Protagonist Therapeutics stock opened at $13.23 on Wednesday. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $11.74. Protagonist Therapeutics has a 52-week low of $5.49 and a 52-week high of $14.36.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.01. The firm had revenue of $1.56 million for the quarter, compared to the consensus estimate of $2.50 million. Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 40.78%. Equities analysts forecast that Protagonist Therapeutics will post -2.07 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. raised its position in shares of Protagonist Therapeutics by 75.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 19,645 shares of the company’s stock worth $132,000 after purchasing an additional 8,450 shares during the period. Bank of Montreal Can grew its stake in shares of Protagonist Therapeutics by 1,675.5% during the 1st quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock worth $139,000 after acquiring an additional 10,405 shares during the period. Bank of America Corp DE grew its stake in shares of Protagonist Therapeutics by 94.3% during the 4th quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock worth $178,000 after acquiring an additional 12,819 shares during the period. Northern Trust Corp grew its stake in shares of Protagonist Therapeutics by 17.2% during the 4th quarter. Northern Trust Corp now owns 34,624 shares of the company’s stock worth $234,000 after acquiring an additional 5,084 shares during the period. Finally, Tibra Equities Europe Ltd bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth $410,000. 64.40% of the stock is currently owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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