Protagonist Therapeutics, Inc. (NASDAQ: PTGX) has received a consensus rating of “Moderate Buy” from fourteen analysts following the company, according to data from Marketbeat.com. This rating reflects a diverse outlook, with two analysts suggesting a hold, eleven recommending a buy, and one issuing a strong buy rating. The average one-year target price for the stock stands at approximately $85.08.
Several analysts have recently adjusted their price targets for Protagonist Therapeutics. On October 28, Truist Financial raised its price objective from $76.00 to $88.00, maintaining a buy rating. On November 7, Citizens JMP increased its target from $69.00 to $102.00, marking the stock as a market outperformer. Also on November 7, JPMorgan Chase & Co. lifted its price target from $68.00 to $81.00, while reaffirming an overweight rating. BMO Capital Markets has also reiterated an outperform rating, and BTIG Research restated a buy rating with a target price of $82.00.
Institutional Investments Reflect Confidence
Recent changes in institutional investor holdings indicate growing confidence in Protagonist Therapeutics. Cambria Investment Management L.P. boosted its stake by 25.0% during the third quarter, acquiring an additional 2,187 shares to reach a total of 10,944 shares, valued at $727,000. Additionally, CIBC Bancorp USA Inc. established a new stake valued at approximately $412,000.
Woodline Partners LP increased its holdings by an impressive 51.9%, acquiring an additional 491,363 shares to amass 1,438,247 shares, worth $95.54 million. Meanwhile, Parkman Healthcare Partners LLC and Millennium Management LLC also expanded their positions, with Millennium increasing its stake by 739.7% to hold 127,560 shares, valued at $8.47 million. Notably, approximately 98.63% of Protagonist Therapeutics’ stock is currently owned by hedge funds and institutional investors.
Stock Performance and Recent Earnings
On Wednesday, shares of Protagonist Therapeutics opened at $87.18. The company’s 50-day moving average is $85.72, while the 200-day moving average stands at $68.63. Over the past year, the stock has experienced a 52-week low of $33.70 and a 52-week high of $96.54. With a market capitalization of $5.45 billion, the company has a price-to-earnings (P/E) ratio of 140.62 and a beta of 2.19.
Protagonist Therapeutics last announced its earnings on November 6, reporting an earnings per share (EPS) of ($0.62) for the quarter, which fell short of analysts’ expectations of ($0.59) by $0.03. The company generated revenue of $4.71 million, below the anticipated $5.41 million. Analysts predict that Protagonist Therapeutics will post an EPS of 2.43 for the current fiscal year.
Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company employs its proprietary Peptide 2.0 platform to create peptides that target G protein–coupled receptors and cytokine receptors. This innovative approach aims to provide the efficacy of biologics while allowing for oral administration, addressing unmet medical needs in areas traditionally treated with injectable therapies. Among its leading programs is PTG-100, an oral α4β7 integrin antagonist designed to inhibit leukocyte migration to the gut in conditions such as ulcerative colitis and Crohn’s disease.