The Chart of the Day belongs to the biopharmaceutical company Protagonist Therapeutics (PTGX) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 4/18 the stock gained 26.50%.
Protagonist Therapeutics, Inc., a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that is in Phase II clinical trials for the treatment of erythrocytosis, iron overload, and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that is in Phase II clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist, which is in Phase II clinical trials for inflammatory bowel disease. The company has a license and collaboration agreement with Janssen Biotech, Inc. Protagonist Therapeutics, Inc. was incorporated in 2006 and is headquartered in Newark, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 173.50+Weighted Alpha
- 226.95% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 10 new highs and up 17.77% in the last month
- Relative Strength Index 71.60%
- Technical support level at $28.10
- Recently traded at $29.30 with 50 day moving average of $23.95
Fundamental Factors:
- Market Cap $1.66 billion
- Revenue projected to grow 25.00% next year
- Earnings estimated to increase 11.90% this year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 2 strong buy and 4 buy opinions on the stock
- Analysts price targets are between $28 and $41 with a consensus of $36.40 for a 23.74% gain
- The individual investors on Motley Fool voted 5 to 0 for the stock to beat the market
- Value Line rates the stock an average 3
- CFRAs MarketScope rates it a sell
- 3,050 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
