Protagonist Therapeutics (NASDAQ:PTGX) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “

Several other equities analysts have also issued reports on the company. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research report on Thursday, May 9th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Stifel Nicolaus upgraded Protagonist Therapeutics from a hold rating to a buy rating and raised their price target for the stock from $11.00 to $17.00 in a research report on Wednesday, May 8th. Finally, HC Wainwright set a $73.00 price target on Uniqure and gave the stock a buy rating in a research report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Protagonist Therapeutics has a consensus rating of Buy and an average price target of $17.17.

Shares of NASDAQ PTGX opened at $13.23 on Wednesday. The firm’s 50-day moving average price is $11.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.02 and a current ratio of 5.02. Protagonist Therapeutics has a 1-year low of $5.49 and a 1-year high of $14.36.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.01. Protagonist Therapeutics had a negative return on equity of 40.78% and a negative net margin of 209.02%. The business had revenue of $1.56 million for the quarter, compared to analyst estimates of $2.50 million. As a group, equities analysts expect that Protagonist Therapeutics will post -2.07 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. boosted its position in shares of Protagonist Therapeutics by 75.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 19,645 shares of the company’s stock valued at $132,000 after purchasing an additional 8,450 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Protagonist Therapeutics by 1,675.5% during the first quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock valued at $139,000 after purchasing an additional 10,405 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Protagonist Therapeutics by 94.3% during the fourth quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock valued at $178,000 after purchasing an additional 12,819 shares in the last quarter. Northern Trust Corp raised its stake in Protagonist Therapeutics by 17.2% during the fourth quarter. Northern Trust Corp now owns 34,624 shares of the company’s stock valued at $234,000 after buying an additional 5,084 shares during the last quarter. Finally, Tibra Equities Europe Ltd purchased a new position in Protagonist Therapeutics during the first quarter valued at $410,000. Institutional investors own 64.40% of the company’s stock.

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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