Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) posted its earnings results on Wednesday. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.23 by $0.06, FiscalAI reports. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The company had revenue of $213.47 million for the quarter, compared to the consensus estimate of $199.81 million. The company’s revenue was up 3746.8% compared to the same quarter last year.
Protagonist Therapeutics Trading Up 1.1%
Protagonist Therapeutics stock traded up $1.51 during trading hours on Wednesday, reaching $137.32. 430,510 shares of the stock were exchanged, compared to its average volume of 653,881. Protagonist Therapeutics has a twelve month low of $50.49 and a twelve month high of $143.29. The company has a market cap of $8.83 billion, a P/E ratio of -75.87 and a beta of 1.78. The stock has a 50 day moving average of $122.46 and a two-hundred day moving average of $104.48.
Analyst Upgrades and Downgrades
PTGX has been the subject of several research reports. Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $110.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Barclays increased their price objective on Protagonist Therapeutics from $119.00 to $151.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Finally, Citizens Jmp boosted their target price on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.
Insider Activity
In other news, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bryan Giraudo sold 36,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $100.14, for a total transaction of $3,605,040.00. Following the completion of the transaction, the director directly owned 27,825 shares in the company, valued at $2,786,395.50. This trade represents a 56.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 161,130 shares of company stock worth $16,355,220. 5.19% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PTGX. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $27,000. Osaic Holdings Inc. increased its position in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in Protagonist Therapeutics in the third quarter valued at approximately $90,000. Truvestments Capital LLC grew its stake in shares of Protagonist Therapeutics by 60.8% during the fourth quarter. Truvestments Capital LLC now owns 1,161 shares of the company’s stock worth $101,000 after buying an additional 439 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Protagonist Therapeutics by 23.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,727 shares of the company’s stock worth $151,000 after buying an additional 324 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.
Protagonist Therapeutics Company Profile
Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.
Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.
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