Equities researchers at Nomura initiated coverage on shares of Protagonist Therapeutics (NASDAQ:PTGX) in a report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $13.00 price target on the stock. Nomura’s target price indicates a potential upside of 93.16% from the company’s current price.
Separately, Zacks Investment Research downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.50.
Shares of PTGX opened at $6.73 on Thursday. Protagonist Therapeutics has a 52-week low of $5.49 and a 52-week high of $23.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of 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 valued at $143,000 after acquiring an additional 20,319 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $304,000. LMR Partners LLP acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $210,000. Eqis Capital Management Inc. acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $236,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $442,000. 66.20% of the stock is currently owned by institutional investors.
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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