Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results

Protagonist Therapeutics (NASDAQ:PTGX) posted its earnings results on Tuesday. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50), Zacks reports. The firm had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million.

Protagonist Therapeutics Trading Down 1.2 %

Shares of NASDAQ:PTGX traded down $0.42 during mid-day trading on Wednesday, reaching $35.79. The company had a trading volume of 785,494 shares, compared to its average volume of 791,232. The company’s 50-day moving average price is $34.55 and its 200-day moving average price is $30.29. Protagonist Therapeutics has a one year low of $13.72 and a one year high of $42.67. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 14.67 and a beta of 2.13.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $280,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $420,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the transaction, the chief executive officer now directly owns 515,415 shares in the company, valued at approximately $18,137,453.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $280,000.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $420,000. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $1,831,650 in the last 90 days. 5.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PTGX shares. JMP Securities dropped their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday. BTIG Research lifted their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $42.80.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.