Protagonist Therapeutics (NASDAQ:PTGX) Releases Earnings Results, Beats Expectations By $0.57 EPS

Protagonist Therapeutics (NASDAQ:PTGX) issued its quarterly earnings results on Thursday. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.57, FiscalAI reports. The firm had revenue of $274.41 million during the quarter, compared to the consensus estimate of $238.49 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.

Protagonist Therapeutics Stock Down 2.4%

PTGX stock traded down $3.22 during midday trading on Friday, hitting $132.04. The company’s stock had a trading volume of 972,922 shares, compared to its average volume of 695,258. Protagonist Therapeutics has a 12 month low of $76.70 and a 12 month high of $160.81. The company has a 50 day moving average of $141.52 and a two-hundred day moving average of $117.83. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 27.97 and a beta of 1.21.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $186.00 in a report on Monday, August 10th. HC Wainwright upped their price objective on Protagonist Therapeutics from $170.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. Leerink Partners assumed coverage on Protagonist Therapeutics in a research report on Monday, October 12th. They set an “outperform” rating and a $190.00 target price on the stock. Barclays raised their price objective on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, Citigroup boosted their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $166.67.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 58,629 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the completion of the transaction, the chief financial officer owned 59,003 shares in the company, valued at $8,365,445.34. This trade represents a 49.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 283,629 shares of company stock worth $41,443,786 in the last three months. Insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.