BidaskClub Upgrades Protagonist Therapeutics (NASDAQ:PTGX) to “Sell”

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BidaskClub upgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a strong sell rating to a sell rating in a report issued on Saturday, BidAskClub reports.

PTGX has been the subject of several other research reports. Zacks Investment Research lowered shares of Protagonist Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 13th. Stifel Nicolaus raised shares of Protagonist Therapeutics from a hold rating to a buy rating and increased their price objective for the stock from $11.00 to $17.00 in a research report on Wednesday, May 8th. Svb Leerink reissued an outperform rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. ValuEngine lowered shares of Protagonist Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Nomura reissued a buy rating and issued a $29.00 price objective on shares of Protagonist Therapeutics in a research report on Sunday, August 11th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Protagonist Therapeutics currently has a consensus rating of Buy and an average target price of $19.60.

Protagonist Therapeutics stock opened at $11.77 on Friday. Protagonist Therapeutics has a 52-week low of $5.49 and a 52-week high of $14.36. The firm has a fifty day moving average of $11.61 and a 200-day moving average of $10.76. The firm has a market capitalization of $309.32 million, a P/E ratio of -6.76 and a beta of 1.87. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.08.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the 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 business had revenue of ($8.19) million during the quarter, compared to analyst estimates of $10.77 million. On average, research analysts expect that Protagonist Therapeutics will post -2.65 EPS for the current fiscal year.

In related news, insider David Y. Liu sold 3,395 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $30,045.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 10,792 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $95,509.20. The disclosure for this sale can be found here. 14.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Protagonist Therapeutics by 8.8% during the 4th quarter. BlackRock Inc. now owns 260,548 shares of the company’s stock worth $1,754,000 after purchasing an additional 21,126 shares during the last quarter. Northern Trust Corp lifted its position in shares of Protagonist Therapeutics by 17.2% during the 4th quarter. Northern Trust Corp now owns 34,624 shares of the company’s stock worth $234,000 after purchasing an additional 5,084 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Protagonist Therapeutics by 33.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 490,267 shares of the company’s stock worth $3,299,000 after purchasing an additional 122,250 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Protagonist Therapeutics by 94.3% during the 4th quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock worth $178,000 after purchasing an additional 12,819 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Protagonist Therapeutics by 1,675.5% during the 1st quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock worth $139,000 after purchasing an additional 10,405 shares during the last quarter. 61.65% of the stock is owned by institutional investors and hedge funds.

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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