Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) released its earnings results on Thursday. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.57, FiscalAI reports. The firm had revenue of $274.41 million for the quarter, compared to the consensus estimate of $238.49 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%.
Protagonist Therapeutics Stock Performance
Shares of PTGX stock traded down $3.22 during mid-day trading on Friday, hitting $132.04. The company’s stock had a trading volume of 972,922 shares, compared to its average volume of 695,258. Protagonist Therapeutics has a 52-week low of $76.70 and a 52-week high of $160.81. The business has a 50-day moving average price of $141.52 and a 200 day moving average price of $117.83. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 27.97 and a beta of 1.21.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on PTGX shares. Wall Street Zen upgraded Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wedbush increased their target price on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Wolfe Research restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, August 31st. The Goldman Sachs Group upgraded Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $186.00 in a report on Monday, August 10th. Finally, TD Cowen lifted their price target on Protagonist Therapeutics from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $166.67.
Read Our Latest Report on PTGX
Insider Buying and Selling at Protagonist Therapeutics
In other Protagonist Therapeutics news, CFO Asif Ali sold 58,629 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the transaction, the chief financial officer owned 59,003 shares of the company’s stock, valued at approximately $8,365,445.34. The trade was a 49.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $144.10, for a total transaction of $1,048,759.80. Following the transaction, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. This represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 283,629 shares of company stock worth $41,443,786 over the last ninety days. 5.19% of the stock is currently owned by insiders.
About Protagonist Therapeutics
Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.
Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.
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