Protagonist Therapeutics (NASDAQ:PTGX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 price target on the stock.

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. “

Several other equities research analysts have also recently issued reports on the company. Nomura reiterated a buy rating and issued a $29.00 price objective on shares of Protagonist Therapeutics in a report on Sunday, August 11th. BidaskClub cut Protagonist Therapeutics from a buy rating to a hold rating in a report on Tuesday. HC Wainwright set a $23.00 price objective on Protagonist Therapeutics and gave the stock a buy rating in a report on Friday, August 2nd. Svb Leerink reiterated an outperform rating on shares of Protagonist Therapeutics in a report on Tuesday, August 13th. Finally, ValuEngine cut Protagonist Therapeutics from a strong-buy rating to a buy rating in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $19.80.

PTGX stock traded down $0.74 during midday trading on Wednesday, reaching $10.81. The stock had a trading volume of 180,301 shares, compared to its average volume of 163,995. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.12 and a current ratio of 4.12. The firm has a fifty day simple moving average of $13.43 and a two-hundred day simple moving average of $11.90. Protagonist Therapeutics has a 52-week low of $5.49 and a 52-week high of $16.67.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.90). Protagonist Therapeutics had a negative return on equity of 62.50% and a negative net margin of 209.02%. The firm had revenue of ($8.19) million during the quarter, compared to analyst estimates of $10.77 million. As a group, research analysts expect that Protagonist Therapeutics will post -3.24 earnings per share for the current year.

In other news, insider David Y. Liu sold 3,395 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $30,045.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,792 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $95,509.20. The disclosure for this sale can be found here. Insiders own 14.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Protagonist Therapeutics by 63.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,486 shares of the company’s stock worth $236,000 after purchasing an additional 7,586 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Protagonist Therapeutics by 12.7% during the 2nd quarter. Citadel Advisors LLC now owns 409,847 shares of the company’s stock worth $4,963,000 after purchasing an additional 46,120 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Protagonist Therapeutics by 54.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 397,278 shares of the company’s stock worth $4,811,000 after purchasing an additional 139,550 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter worth approximately $216,000. Finally, Novo Holdings A S purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $289,000. Institutional investors and hedge funds own 73.41% 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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