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Ali Asif, the Chief Financial Officer of Protagonist Therapeutics Inc . (NASDAQ:PTGX), has recently sold a significant portion of the company’s stock. According to a recent SEC filing, Asif sold 24,903 shares of common stock at an average price of $58.73 per share, resulting in a total transaction value of approximately $1.46 million. The sale comes amid a remarkable period for PTGX, which has seen its stock surge over 42% in the past week alone, according to InvestingPro data.
Additionally, Asif exercised options to acquire 15,203 shares at $12.17 per share and 9,700 shares at $19.19 per share, totaling approximately $371,163. Following these transactions, Asif holds 62,821 shares of the company directly. The timing of these transactions is notable, as InvestingPro analysis indicates the stock is currently in overbought territory, with the company’s market capitalization now standing at $3.37 billion.
These transactions were executed on March 12, 2025, and reflect Asif’s ongoing management of his holdings in the pharmaceutical company. Protagonist Therapeutics, based in Newark, California, focuses on developing peptide-based therapeutics to address unmet medical needs. The company maintains strong financial health, with an excellent InvestingPro Financial Health score of 4.16 out of 5, and trades at a P/E ratio of 12.28, though current analysis suggests the stock may be overvalued at these levels.
In other recent news, Protagonist Therapeutics has reported significant developments in its clinical trials and financial projections. BMO Capital Markets has raised its price target for Protagonist Therapeutics to $72, citing promising data from treatments for plaque psoriasis and ulcerative colitis. The firm maintains an Outperform rating, reflecting confidence in the company’s pipeline. Jefferies has also maintained a Buy rating, with a $68 price target, following positive clinical trial results for Icotrokinra, an oral treatment for ulcerative colitis, which met key endpoints in recent studies. Truist Securities adjusted its price target to $76, highlighting the success of rusfertide in Phase 2b trials for ulcerative colitis and increased sales projections. H.C. Wainwright reiterated a Buy rating and a $54 target, emphasizing the efficacy of icotrokinra in psoriasis treatment, with significant patient improvements reported. Finally, BTIG analyst Julian Harrison maintained a Buy rating, setting a $73 target, based on strong volume forecasts and anticipated model launches in the coming years. These developments indicate continued analyst confidence in Protagonist Therapeutics’ growth and market potential.
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