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Ali Asif, the Chief Financial Officer of Protagonist Therapeutics, Inc. (NASDAQ:PTGX), a $2.2 billion market cap company with excellent financial health according to InvestingPro analysis, recently reported the sale of a total of 3,918 shares of common stock. The transactions, executed on January 16, involved the sale of 1,317 and 2,601 shares respectively. According to the filing, these sales were conducted to cover tax withholding obligations incurred upon the settlement of restricted stock units. Following these transactions, Asif holds 62,821 shares directly. The company maintains strong liquidity with a current ratio of 10.7, and analysts remain bullish with price targets ranging from $43 to $67. For deeper insights into PTGX's valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Protagonist Therapeutics has reported a change in executive roles, with Suneel Gupta, Ph.D. transitioning from Chief Development Officer to Executive Vice President, Clinical Development. The company has also seen positive analyst ratings and price targets from firms such as Clear Street, BTIG, BMO Capital, and Truist Securities, highlighting the potential of their drug candidates rusfertide and icotrokinra. Protagonist Therapeutics has made progress in its collaboration with Takeda on the Rusfertide program for polycythemia vera treatment and announced its entry into the obesity treatment market. Changes in the company's board were also noted, with Sarah A. O'Dowd filling the Audit Committee vacancy following the departure of Daniel N. Swisher Jr., and the appointment of Newman Yeilding, M.D., as Chief Scientific Advisor. The company's solid financial foundation is evidenced by its net income of $170.85 million in the last twelve months, with analysts expecting continued growth in both sales and earnings this year. These are recent developments in Protagonist Therapeutics.
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