Wall Street Analyst Initiated Protagonist Therapeutics Inc. [PTGX]. What else is Wall St. saying

Protagonist Therapeutics Inc. [NASDAQ: PTGX] traded at a high on 03/07/23, posting a 51.91 gain after which it closed the day’ session at $23.09. The company report on March 7, 2023 that Protagonist Therapeutics Announces Positive Topline Results for Phase 2b FRONTIER 1 Clinical Trial of Oral IL-23 Receptor Antagonist JNJ-2113 (PN-235) in Psoriasis.

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JNJ-2113 (formerly PN-235) met the study’s primary endpoint, with a statistically significantly higher proportion of adult patients with moderate-to-severe plaque psoriasis achieving PASI-75 in all treatment groups at Week 16 compared to placebo.

Treatment was well tolerated, with no meaningful difference in frequency of adverse events across treatment groups.

The results of the trading session contributed to over 22795128 shares changing hands. Over the past one week, the price volatility of Protagonist Therapeutics Inc. stands at 11.90% while the volatility over the past one month is 7.26%.

The market cap for PTGX stock reached $1.12 billion, with 49.11 million shares outstanding and 48.48 million shares in the current float. Compared to the average trading volume of 1.10M shares, PTGX reached a trading volume of 22795128 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Protagonist Therapeutics Inc. [PTGX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTGX shares is $31.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTGX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for Protagonist Therapeutics Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on February 11, 2022, representing the official price target for Protagonist Therapeutics Inc. stock. Previously, the target price had yet another raise from $49 to $55, while JP Morgan kept a Overweight rating on PTGX stock.

The Average True Range (ATR) for Protagonist Therapeutics Inc. is set at 1.36, with the Price to Sales ratio for PTGX stock in the period of the last 12 months amounting to 31.76. The Price to Book ratio for the last quarter was 4.66, with the Price to Cash per share for the same quarter was set at 5.52.

How has PTGX stock performed recently?

Protagonist Therapeutics Inc. [PTGX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.36. With this latest performance, PTGX shares gained by 61.13% in over the last four-week period, additionally plugging by 160.90% over the last 6 months – not to mention a drop of -5.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTGX stock in for the last two-week period is set at 79.66, with the RSI for the last a single of trading hit 83.20, and the three-weeks RSI is set at 77.33 for Protagonist Therapeutics Inc. [PTGX]. The present Moving Average for the last 50 days of trading for this stock 13.82, while it was recorded at 17.02 for the last single week of trading, and 10.03 for the last 200 days.

Protagonist Therapeutics Inc. [PTGX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Protagonist Therapeutics Inc. [PTGX] shares currently have an operating margin of -471.34 and a Gross Margin at +89.86. Protagonist Therapeutics Inc.’s Net Margin is presently recorded at -458.94.

Return on Equity for this stock declined to -43.32, with Return on Assets sitting at -37.30.

Protagonist Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.50 and a Current Ratio set at 7.50.

Insider trade positions for Protagonist Therapeutics Inc. [PTGX]

There are presently around $1,139 million, or 98.30% of PTGX stock, in the hands of institutional investors. The top three institutional holders of PTGX stocks are: STATE STREET CORP with ownership of 3,792,926, which is approximately -18.897% of the company’s market cap and around 1.60% of the total institutional ownership; BLACKROCK INC., holding 3,652,157 shares of the stock with an approximate value of $84.33 million in PTGX stocks shares; and FARALLON CAPITAL MANAGEMENT LLC, currently with $84.32 million in PTGX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Protagonist Therapeutics Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 76 institutional holders increased their position in Protagonist Therapeutics Inc. [NASDAQ:PTGX] by around 10,583,998 shares. Additionally, 59 investors decreased positions by around 8,579,344 shares, while 20 investors held positions by with 30,180,955 shares. The mentioned changes placed institutional holdings at 49,344,297 shares, according to the latest SEC report filing. PTGX stock had 23 new institutional investments in for a total of 4,225,536 shares, while 15 institutional investors sold positions of 323,495 shares during the same period.


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