Protagonist Therapeutics (PTGX) Given Outperform Rating at BMO Capital Markets

Protagonist Therapeutics (NASDAQ:PTGX)‘s stock had its “outperform” rating reiterated by equities researchers at BMO Capital Markets in a report released on Thursday. They currently have a $42.00 price target on the stock, down from their prior price target of $44.00. BMO Capital Markets’ price target suggests a potential upside of 81.98% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. Stifel Nicolaus assumed coverage on shares of Protagonist Therapeutics in a report on Monday, January 29th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.25.

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Shares of Protagonist Therapeutics (PTGX) opened at $23.08 on Thursday. The firm has a market cap of $555.69 and a PE ratio of -10.69. Protagonist Therapeutics has a 1-year low of $8.00 and a 1-year high of $23.97.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, March 7th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.19. The company had revenue of $11.28 million during the quarter, compared to analyst estimates of $8.75 million. research analysts predict that Protagonist Therapeutics will post -1.68 earnings per share for the current fiscal year.

In other Protagonist Therapeutics news, insider Richard S. Shames sold 3,529 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $20.50, for a total value of $72,344.50. Following the completion of the sale, the insider now directly owns 3,529 shares of the company’s stock, valued at approximately $72,344.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas P. O’neil sold 8,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $20.00, for a total transaction of $160,000.00. Following the completion of the sale, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $80,000. The disclosure for this sale can be found here. Insiders sold 15,944 shares of company stock valued at $319,839 in the last ninety days. Corporate insiders own 15.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in Protagonist Therapeutics by 1,086.0% in the 4th quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock valued at $123,000 after acquiring an additional 5,430 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Protagonist Therapeutics by 60.8% in the 3rd quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock valued at $169,000 after acquiring an additional 3,617 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Protagonist Therapeutics by 71.4% in the 2nd quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock valued at $183,000 after acquiring an additional 6,757 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Protagonist Therapeutics by 8.5% in the 2nd quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock valued at $188,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Protagonist Therapeutics in the 4th quarter valued at about $197,000. 57.77% of the stock is owned by institutional investors.

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Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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