What is Wedbush’s Forecast for PTGX FY2029 Earnings?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Equities research analysts at Wedbush decreased their FY2029 earnings per share estimates for shares of Protagonist Therapeutics in a research report issued to clients and investors on Friday, November 7th. Wedbush analyst Y. Zhong now forecasts that the company will earn $1.97 per share for the year, down from their prior estimate of $2.27. Wedbush has a “Outperform” rating and a $86.00 price objective on the stock. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.43 per share.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The firm had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. Finally, Leerink Partnrs raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average target price of $82.08.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $79.54 on Monday. Protagonist Therapeutics has a 52 week low of $33.31 and a 52 week high of $93.25. The stock’s 50 day moving average price is $68.54 and its two-hundred day moving average price is $57.64. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 128.29 and a beta of 2.21.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the sale, the director directly owned 5,130 shares of the company’s stock, valued at $418,710.60. This trade represents a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 20,000 shares of company stock valued at $1,473,440 in the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its position in shares of Protagonist Therapeutics by 4.1% in the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock valued at $405,000 after buying an additional 330 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $362,000. Inspire Investing LLC increased its stake in Protagonist Therapeutics by 106.9% in the first quarter. Inspire Investing LLC now owns 21,834 shares of the company’s stock valued at $1,056,000 after purchasing an additional 11,279 shares in the last quarter. Axiom Investors LLC DE acquired a new position in Protagonist Therapeutics during the 1st quarter worth approximately $1,933,000. Finally, Palumbo Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics during the second quarter worth approximately $416,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

About Protagonist Therapeutics

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 completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b 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 completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.