Protagonist Therapeutics Inc (PTGX) Receives $17.33 Average PT from Analysts
Protagonist Therapeutics Inc (NASDAQ:PTGX) has been given an average recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.33.
A number of research analysts recently commented on the company. ValuEngine upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Leerink Swann raised their price target on Protagonist Therapeutics from $13.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, August 6th.
PTGX stock traded down $0.22 during trading hours on Friday, hitting $8.77. 39,230 shares of the stock were exchanged, compared to its average volume of 237,147. The stock has a market capitalization of $247.84 million, a price-to-earnings ratio of -4.20 and a beta of 3.68. Protagonist Therapeutics has a 12 month low of $5.50 and a 12 month high of $23.97.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Protagonist Therapeutics by 3.7% in the second quarter. American Century Companies Inc. now owns 148,076 shares of the company’s stock worth $995,000 after purchasing an additional 5,242 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Protagonist Therapeutics by 255.0% in the first quarter. Cubist Systematic Strategies LLC now owns 11,593 shares of the company’s stock worth $100,000 after purchasing an additional 8,327 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Protagonist Therapeutics by 67.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 32,315 shares of the company’s stock worth $278,000 after purchasing an additional 13,015 shares during the period. Bank of New York Mellon Corp increased its position in shares of Protagonist Therapeutics by 26.6% in the second quarter. Bank of New York Mellon Corp now owns 63,269 shares of the company’s stock worth $426,000 after purchasing an additional 13,303 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Protagonist Therapeutics in the first quarter worth $116,000. Institutional investors own 57.93% of the company’s stock.
Protagonist Therapeutics Company Profile
Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.
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