Portage Biotech (NASDAQ:ALP) CEO Buys $50,022.50 in Stock

Portage Biotech Inc. (NASDAQ:ALP) CEO Brittany Kaiser acquired 9,350 shares of Portage Biotech stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average cost of $5.35 per share, for a total transaction of $50,022.50. Following the completion of the purchase, the chief executive officer directly owned 16,766 shares in the company, valued at approximately $89,698.10. This represents a 126.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Portage Biotech Stock Up 2.5%

Shares of Portage Biotech stock opened at $4.10 on Thursday. Portage Biotech Inc. has a twelve month low of $3.20 and a twelve month high of $690.00. The stock has a market cap of $6.35 million, a price-to-earnings ratio of -0.01 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 has a fifty day moving average price of $10.03 and a 200 day moving average price of $14.50.

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

Wall Street Analyst Weigh In

ALP has been the subject of a number of recent research reports. HC Wainwright started coverage on shares of Portage Biotech in a research report on Monday, August 17th. They set a “neutral” rating and a $12.50 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Portage Biotech in a research note on Friday, July 24th. Zacks Research raised Portage Biotech to a “hold” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Portage Biotech to a “hold” rating in a research report on Saturday, September 12th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Portage Biotech presently has a consensus rating of “Reduce” and an average target price of $12.50.

Portage Biotech Company Profile

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.