Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Protagonist Therapeutics (NASDAQ:PTGX) released its quarterly earnings results on Wednesday. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.06, FiscalAI reports. The company had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $199.81 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The company’s revenue was up 3746.8% on a year-over-year basis.

Protagonist Therapeutics Trading Up 1.1%

PTGX stock traded up $1.51 during trading hours on Wednesday, hitting $137.32. 430,510 shares of the stock traded hands, compared to its average volume of 653,881. The stock has a 50-day simple moving average of $122.46 and a 200 day simple moving average of $104.48. The company has a market cap of $8.83 billion, a P/E ratio of -75.87 and a beta of 1.78. Protagonist Therapeutics has a one year low of $50.49 and a one year high of $143.29.

Insiders Place Their Bets

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bryan Giraudo sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $100.00, for a total transaction of $600,000.00. Following the transaction, the director owned 31,825 shares of the company’s stock, valued at approximately $3,182,500. This trade represents a 15.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 161,130 shares of company stock worth $16,355,220. 5.19% of the stock is owned by corporate insiders.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics in the fourth quarter worth approximately $27,000. Osaic Holdings Inc. lifted its position in shares of Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after acquiring an additional 525 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $90,000. Truvestments Capital LLC lifted its position in shares of Protagonist Therapeutics by 60.8% during the 4th quarter. Truvestments Capital LLC now owns 1,161 shares of the company’s stock valued at $101,000 after acquiring an additional 439 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Protagonist Therapeutics by 23.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,727 shares of the company’s stock worth $151,000 after acquiring an additional 324 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wolfe Research began coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $110.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Wedbush boosted their price target on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.