Key Points
- CEO Dinesh Ph Patel sold 54,174 PTGX shares at an average price of $145.87, generating approximately $7.9 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 9.39% to 522,968 shares.
- Protagonist Therapeutics reported quarterly earnings of $2.29 per share, slightly exceeding estimates, while revenue reached $213.47 million and surged 3,746.8% year over year.
- Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $147.13; institutional investors own 98.63% of the stock.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) CEO Dinesh Ph Patel sold 7,278 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $144.10, for a total transaction of $1,048,759.80. Following the sale, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Protagonist Therapeutics Trading Up 0.0%
PTGX opened at $145.16 on Friday. The stock has a 50-day moving average of $142.81 and a 200 day moving average of $116.73. Protagonist Therapeutics, Inc. has a 12 month low of $57.53 and a 12 month high of $160.81. The firm has a market cap of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.02. The business had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm's revenue for the quarter was up 3746.8% on a year-over-year basis. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PTGX. Wall Street Zen raised Protagonist Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 22nd. Weiss Ratings raised shares of Protagonist Therapeutics from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. HC Wainwright lifted their price objective on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. Citigroup boosted their price objective on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, August 31st. Finally, Truist Financial increased their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.13.
View Our Latest Research Report on PTGX
Institutional Investors Weigh In On Protagonist Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. Johnson & Johnson purchased a new position in Protagonist Therapeutics during the 2nd quarter valued at $300,220,852. NEXTBio Capital Management LP purchased a new stake in Protagonist Therapeutics in the fourth quarter worth $20,055,000. Deutsche Bank AG purchased a new stake in Protagonist Therapeutics in the second quarter worth $17,387,000. Clearbridge Investments LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $42,783,000. Finally, Stempoint Capital LP lifted its position in shares of Protagonist Therapeutics by 22.1% during the first quarter. Stempoint Capital LP now owns 72,577 shares of the company's stock worth $7,650,000 after purchasing an additional 13,147 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.
Protagonist Therapeutics Company Profile
(
Get Free Report)
Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.
Protagonist's pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
