Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Protagonist Therapeutics (NASDAQ:PTGX) posted its quarterly earnings data on Wednesday. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.02, FiscalAI reports. The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $210.91 million. Protagonist Therapeutics had a return on equity of 12.98% and a net margin of 29.40%.The firm’s revenue was up 3746.8% compared to the same quarter last year.

Protagonist Therapeutics Trading Down 0.0%

Shares of PTGX stock traded down $0.04 on Friday, reaching $146.14. 164,924 shares of the company’s stock were exchanged, compared to its average volume of 738,745. Protagonist Therapeutics has a 52 week low of $50.49 and a 52 week high of $148.00. The stock has a market capitalization of $9.40 billion, a PE ratio of 142.30 and a beta of 1.78. The company’s fifty day simple moving average is $123.38 and its 200 day simple moving average is $104.93.

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 on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. This represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Waddill sold 9,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% decrease in their position. 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 90 days, insiders have sold 102,000 shares of company stock valued at $10,436,340. 5.19% of the stock is owned by company insiders.

Institutional Trading of Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Vise Technologies Inc. purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at $262,000. CIBC Asset Management Inc bought a new position in Protagonist Therapeutics during the 4th quarter worth about $233,000. iSAM Funds UK Ltd purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $207,000. FORA Capital LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $245,000. Finally, Certuity LLC bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $301,000. Institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PTGX. The Goldman Sachs Group restated a “neutral” rating and set a $110.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Wolfe Research initiated coverage on shares of Protagonist Therapeutics in a research note on Thursday, May 21st. They set an “outperform” rating and a $135.00 price objective for the company. Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $126.71.

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.