Portage Biotech (NASDAQ:ALP) Insider Buys 7,000 Shares

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani bought 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average price of $5.07 per share, for a total transaction of $35,490.00. Following the acquisition, the insider directly owned 22,219 shares of the company’s stock, valued at $112,650.33. This represents a 46.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Portage Biotech Price Performance

Shares of ALP opened at $4.04 on Monday. The company has a market cap of $6.26 million, a price-to-earnings ratio of -0.49 and a beta of 0.54. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $10.78 and its 200 day simple moving average is $14.86. Portage Biotech Inc. has a 1-year low of $3.20 and a 1-year high of $690.00.

Portage Biotech (NASDAQ:ALP) last announced its quarterly earnings data on Thursday, July 16th. The company reported $23.75 EPS for the quarter. The firm had revenue of $0.05 million during the quarter. On average, research analysts forecast that Portage Biotech Inc. will post -14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALP has been the subject of several research analyst reports. HC Wainwright started coverage on Portage Biotech in a research note on Monday, August 17th. They set a “neutral” rating and a $12.50 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Portage Biotech in a report on Friday, July 24th. Zacks Research raised shares of Portage Biotech to a “hold” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded shares of Portage Biotech to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $12.50.

About Portage Biotech

Portage Biotech (NASDAQ:ATON) is a biotechnology company focused on acquiring, developing and advancing therapeutic candidates and platform technologies. The company concentrates its development efforts primarily in areas such as oncology, immunology/inflammation and infectious disease, seeking to move programs from discovery and preclinical stages into clinical development through subsidiary companies and collaborative arrangements.

Portage structures its operations to support a diversified pipeline, advancing both small molecules and biologics by funding preclinical research, conducting clinical trials, and managing regulatory interactions.