Protagonist Therapeutics (NASDAQ:PTGX) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

A number of other brokerages also recently weighed in on PTGX. ValuEngine upgraded shares of Protagonist Therapeutics from a hold rating to a buy rating in a research report on Friday, March 6th. HC Wainwright reiterated a buy rating and issued a $28.00 price objective (up previously from $23.00) on shares of Protagonist Therapeutics in a research report on Wednesday, May 13th. Zacks Investment Research cut shares of Protagonist Therapeutics from a buy rating to a hold rating in a research note on Friday, March 13th. Nomura Instinet boosted their target price on shares of Protagonist Therapeutics from $29.00 to $33.00 and gave the stock a buy rating in a research note on Monday, May 11th. Finally, Nomura boosted their target price on shares of Protagonist Therapeutics from $29.00 to $33.00 and gave the stock a buy rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $26.92.

Shares of Protagonist Therapeutics stock opened at $17.66 on Friday. The firm has a 50-day simple moving average of $16.53 and a two-hundred day simple moving average of $9.71. The company has a market cap of $508.64 million, a P/E ratio of -5.62 and a beta of 1.37. Protagonist Therapeutics has a fifty-two week low of $4.47 and a fifty-two week high of $19.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.46 and a current ratio of 3.46.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). The business had revenue of $3.65 million for the quarter, compared to analyst estimates of $3.60 million. Equities research analysts forecast that Protagonist Therapeutics will post -2.39 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Protagonist Therapeutics by 241.6% during the 1st quarter. JPMorgan Chase & Co. now owns 883,013 shares of the company’s stock valued at $6,234,000 after acquiring an additional 624,546 shares in the last quarter. FMR LLC grew its stake in Protagonist Therapeutics by 3.5% during the 4th quarter. FMR LLC now owns 4,080,967 shares of the company’s stock valued at $28,771,000 after acquiring an additional 138,955 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Protagonist Therapeutics by 119.6% during the 1st quarter. Russell Investments Group Ltd. now owns 104,440 shares of the company’s stock valued at $736,000 after acquiring an additional 56,872 shares in the last quarter. UBS Group AG grew its stake in Protagonist Therapeutics by 246.1% during the 1st quarter. UBS Group AG now owns 73,233 shares of the company’s stock valued at $517,000 after acquiring an additional 52,074 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Protagonist Therapeutics by 24.5% during the 1st quarter. Citigroup Inc. now owns 7,022 shares of the company’s stock valued at $50,000 after acquiring an additional 1,383 shares in the last quarter. 85.62% of the stock is owned by institutional investors.

Protagonist Therapeutics Company Profile

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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Analyst Recommendations for Protagonist Therapeutics (NASDAQ:PTGX)

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