Arturo Molina, MD, Chief Medical (TASE:PMCN) Officer of Protagonist Therapeutics, Inc. (NASDAQ:PTGX), recently executed multiple stock transactions involving the company's common stock. On November 26 and 27, Molina sold a total of 31,529 shares, amounting to approximately $1.41 million. The shares were sold at prices ranging from $44.50 to $45.60.
Additionally, Molina acquired shares through stock option exercises on the same dates. He acquired a total of 31,529 shares at a price of $8.04 per share, equating to a total value of approximately $253,493. Following these transactions, Molina holds 46,444 shares directly.
In other recent news, Protagonist Therapeutics has seen significant developments in its drug development and operational efforts. Truist Securities reaffirmed a Buy rating for the company, with a target price of $60, citing optimism over the introduction of a new oral IL-17 peptide asset. BTIG also raised its stock price target from $51 to $67, maintaining a Neutral rating, and highlighted the potential of Protagonist's PN-881 drug candidate.
The company's other drug candidate, icotrokinra, met primary endpoints in the ICONIC Phase 3 program for treating moderate-to-severe plaque psoriasis, triggering a $165 million milestone payment from Janssen. Analyst firms such as H.C. Wainwright, TD (TSX:TD) Cowen, and Truist Securities have maintained a Buy rating for Protagonist, reflecting confidence in the company's commercial prospects.
Protagonist Therapeutics has also made progress in its collaboration with Takeda on the Rusfertide program for polycythemia vera treatment and announced its entry into the obesity treatment market. Additionally, the company saw changes in its board with Daniel N. Swisher Jr. stepping down and Sarah A. O'Dowd filling the vacancy on the Audit Committee. Protagonist also welcomed Newman Yeilding, M.D., as its Chief Scientific Advisor.
InvestingPro Insights
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has been experiencing significant momentum, as evidenced by the recent insider transactions and the company's financial performance. According to InvestingPro data, PTGX has shown impressive growth with a 156.56% price total return over the past year and a 49.93% return in the last six months. This aligns with the InvestingPro Tip indicating a "high return over the last year" and a "large price uptick over the last six months."
The company's financial health appears robust, with InvestingPro data showing a market capitalization of $2.68 billion and a price-to-earnings ratio of 16.02. Notably, PTGX's revenue for the last twelve months as of Q3 2024 stood at $323.8 million, with a remarkable 100% gross profit margin. This strong financial position is further supported by an InvestingPro Tip stating that PTGX "holds more cash than debt on its balance sheet."
For investors seeking more comprehensive insights, InvestingPro offers 13 additional tips for Protagonist Therapeutics, providing a deeper understanding of the company's potential and risks. These tips could be particularly valuable given the recent insider activity and the company's strong market performance.
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