Protagonist Therapeutics (NASDAQ:PTGX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a report issued 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. “

A number of other equities research analysts also recently issued reports on the company. ValuEngine downgraded Protagonist Therapeutics from a strong-buy rating to a buy rating in a research report on Monday, September 30th. BidaskClub upgraded Protagonist Therapeutics from a hold rating to a buy rating in a research report on Friday, November 1st. HC Wainwright set a $23.00 price objective on Protagonist Therapeutics and gave the company a buy rating in a research report on Friday, August 2nd. Nomura restated a buy rating and set a $29.00 price objective on shares of Protagonist Therapeutics in a research report on Sunday, August 11th. Finally, Svb Leerink restated an outperform rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and a consensus target price of $20.00.

Shares of Protagonist Therapeutics stock opened at $10.12 on Wednesday. The stock has a 50 day moving average of $12.34 and a 200 day moving average of $11.89. Protagonist Therapeutics has a 12 month low of $5.49 and a 12 month high of $16.67. The firm has a market cap of $334.91 million, a PE ratio of -5.82 and a beta of 1.74. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.08.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.10. Protagonist Therapeutics had a negative return on equity of 62.50% and a negative net margin of 209.02%. The company had revenue of $4.14 million during the quarter, compared to analyst estimates of $5.75 million. As a group, equities research analysts forecast that Protagonist Therapeutics will post -3.24 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. raised its position in Protagonist Therapeutics by 1,433.3% during the third quarter. Meeder Asset Management Inc. now owns 3,450 shares of the company’s stock valued at $41,000 after purchasing an additional 3,225 shares during the period. Rhumbline Advisers raised its holdings in shares of Protagonist Therapeutics by 20.7% in the third quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock worth $187,000 after buying an additional 2,662 shares during the period. Algert Global LLC raised its holdings in shares of Protagonist Therapeutics by 48.0% in the second quarter. Algert Global LLC now owns 15,517 shares of the company’s stock worth $188,000 after buying an additional 5,030 shares during the period. Marshall Wace LLP purchased a new stake in shares of Protagonist Therapeutics in the second quarter worth approximately $216,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Protagonist Therapeutics by 63.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,486 shares of the company’s stock worth $236,000 after buying an additional 7,586 shares during the period. Institutional investors and hedge funds own 73.53% of the company’s stock.

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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