Equities research analysts at Nomura began coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a note issued to investors on Thursday. The brokerage set a “buy” rating and a $13.00 price target on the stock. Nomura’s target price would suggest a potential upside of 94.03% from the company’s current price.
Separately, Zacks Investment Research lowered Protagonist Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.50.
Shares of PTGX stock traded up $0.33 on Thursday, hitting $6.70. 393 shares of the stock traded hands, compared to its average volume of 138,262. The firm has a market cap of $154.07 million, a P/E ratio of -3.25 and a beta of 3.30. Protagonist Therapeutics has a 1-year low of $5.49 and a 1-year high of $23.97.
Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.01). The firm had revenue of $6.12 million for the quarter, compared to analyst estimates of $6.35 million. Protagonist Therapeutics had a negative net margin of 70.54% and a negative return on equity of 24.08%. On average, equities research analysts forecast that Protagonist Therapeutics will post -1.58 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Protagonist Therapeutics by 2,262.7% during the 2nd quarter. Bank of America Corp DE now owns 21,217 shares of the company’s stock worth $143,000 after buying an additional 20,319 shares during the last quarter. LMR Partners LLP bought a new position in Protagonist Therapeutics during the 2nd quarter worth $210,000. Eqis Capital Management Inc. bought a new position in Protagonist Therapeutics during the 2nd quarter worth $236,000. Trexquant Investment LP bought a new position in Protagonist Therapeutics during the 3rd quarter worth $304,000. Finally, Algert Global LLC bought a new position in Protagonist Therapeutics during the 2nd quarter worth $349,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.
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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