Protagonist Therapeutics (NASDAQ:PTGX) Posts Quarterly Earnings Results, Beats Estimates By $0.70 EPS

Protagonist Therapeutics (NASDAQ:PTGX) posted its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.70, FiscalAI reports. Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The business had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX traded down $4.85 during midday trading on Thursday, hitting $99.13. The stock had a trading volume of 515,005 shares, compared to its average volume of 773,240. The company’s 50-day simple moving average is $99.17 and its 200 day simple moving average is $89.26. The firm has a market cap of $6.37 billion, a P/E ratio of -48.38 and a beta of 1.89. Protagonist Therapeutics has a fifty-two week low of $41.60 and a fifty-two week high of $107.84.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 54,641 shares of Protagonist Therapeutics stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $101.00, for a total value of $5,518,741.00. Following the completion of the sale, the chief executive officer directly owned 524,938 shares of the company’s stock, valued at approximately $53,018,738. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 15,000 shares of Protagonist Therapeutics stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total value of $1,571,850.00. Following the completion of the sale, the insider directly owned 84,115 shares of the company’s stock, valued at $8,814,410.85. This trade represents a 15.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 158,215 shares of company stock worth $15,539,786. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its position in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock worth $751,000 after purchasing an additional 196 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in shares of Protagonist Therapeutics by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 61,849 shares of the company’s stock worth $4,109,000 after purchasing an additional 253 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares during the last quarter. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the 4th quarter worth $27,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Protagonist Therapeutics by 23.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,727 shares of the company’s stock worth $151,000 after purchasing an additional 324 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. HC Wainwright boosted their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. TD Cowen upped their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Citigroup reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday. Barclays upped their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Truist Financial increased their target price on Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.69.

About Protagonist Therapeutics

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.