Protagonist Therapeutics Surpasses Target Price as Analysts Weigh In
Recently, shares of Protagonist Therapeutics Inc. (Symbol: PTGX) have traded above the average analyst 12-month target price of $59.30, with shares changing hands at $59.76 each. When a stock reaches the target set by analysts, they generally have two options: either downgrade the valuation or adjust the target price upward. The analyst’s response may also hinge on the company’s fundamental developments driving the stock price up. If the outlook for Protagonist is positive, it could be time to re-evaluate their target price.
Exploring Analyst Targets for Protagonist Therapeutics
Within the Zacks coverage universe, there are ten analyst targets contributing to the average for Protagonist Therapeutics Inc. However, it’s important to note that this average is just a numerical figure, encompassing a range of opinions. For instance, some analysts have set targets lower than the average, with one projecting a price of $38.00, while another has a maximum target of $73.00. The standard deviation among these targets is $9.393.
The ‘Wisdom of Crowds’ Approach
The main purpose of looking at the average PTGX price target is to leverage the “wisdom of crowds.” This method combines insights from various analysts rather than relying on a single expert opinion. With PTGX now trading above the average target price of $59.30/share, investors have a valuable opportunity to reassess their stance on the company. They must decide whether $59.30 is merely a stepping stone to an even higher target or if the current valuation is too inflated, warranting consideration of selling shares. Below is a breakdown of recent analyst ratings for Protagonist Therapeutics Inc:
| Recent PTGX Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 9 | 9 | 9 | 9 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.2 | 1.2 | 1.2 | 1.2 |
The average rating in the table above uses a scale from 1 to 5, where 1 is a Strong Buy and 5 is a Strong Sell. This article relies on data provided by Zacks Investment Research via Quandl.com. For the latest Zacks research report on PTGX, click here.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
