Protagonist Therapeutics (NASDAQ:PTGX) Posts Quarterly Earnings Results, Beats Estimates By $0.57 EPS

Protagonist Therapeutics (NASDAQ:PTGX) released its earnings results on Thursday. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 Trading Down 2.4%

PTGX stock traded down $3.22 during trading on Friday, hitting $132.04. The company had a trading volume of 972,922 shares, compared to its average volume of 695,258. The company has a market cap of $8.54 billion, a P/E ratio of 27.97 and a beta of 1.21. The company has a fifty day moving average price of $141.52 and a two-hundred day moving average price of $117.83. Protagonist Therapeutics has a fifty-two week low of $76.70 and a fifty-two week high of $160.81.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinsesh Patel sold 7,278 shares of Protagonist Therapeutics stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $144.10, for a total value of $1,048,759.80. Following the completion of the transaction, the chief executive officer owned 522,968 shares in the company, valued at approximately $75,359,688.80. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the company’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 transaction, the chief financial officer owned 59,003 shares in the company, valued at $8,365,445.34. The trade was a 49.84% 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. In the last ninety days, insiders have sold 283,629 shares of company stock valued at $41,443,786. Company insiders own 5.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. HC Wainwright raised their price target on Protagonist Therapeutics from $170.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen upped their price objective on shares of Protagonist Therapeutics from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. UBS Group reiterated a “buy” rating on shares of Protagonist Therapeutics in a report on Tuesday. Finally, Citigroup lifted their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and an average target price of $166.67.

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.