Protagonist Therapeutics Inc (PTGX) Expected to Post Earnings of -$0.30 Per Share

Wall Street brokerages expect that Protagonist Therapeutics Inc (NASDAQ:PTGX) will report earnings of ($0.30) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Protagonist Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.51). Protagonist Therapeutics reported earnings of ($0.89) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.3%. The company is expected to report its next quarterly earnings results on Tuesday, August 14th.

According to Zacks, analysts expect that Protagonist Therapeutics will report full-year earnings of ($0.98) per share for the current year, with EPS estimates ranging from ($1.23) to ($0.73). For the next financial year, analysts anticipate that the company will post earnings of ($1.77) per share, with EPS estimates ranging from ($2.24) to ($1.29). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Protagonist Therapeutics.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Wednesday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The company had revenue of $10.78 million during the quarter, compared to analysts’ expectations of $10.70 million.



PTGX has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Protagonist Therapeutics in a report on Monday, January 29th. They set a “buy” rating and a $32.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $13.00 target price (down previously from $42.00) on shares of Protagonist Therapeutics in a report on Monday, March 26th. They noted that the move was a valuation call. BidaskClub downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. Finally, Zacks Investment Research raised Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.75.

Protagonist Therapeutics traded down $0.46, reaching $5.99, during trading hours on Friday, MarketBeat Ratings reports. 259,926 shares of the stock were exchanged, compared to its average volume of 209,881. Protagonist Therapeutics has a 52 week low of $6.34 and a 52 week high of $6.50. The company has a market cap of $136.76 million, a PE ratio of -2.87 and a beta of 3.54.

In related news, insider David Y. Liu sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $21.29, for a total value of $74,515.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder X L.P. Canaan sold 1,204 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $20.84, for a total value of $25,091.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,955 shares of company stock worth $3,173,786. 13.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can lifted its holdings in shares of Protagonist Therapeutics by 1,086.0% in the 4th quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock worth $123,000 after purchasing an additional 5,430 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Protagonist Therapeutics in the 4th quarter worth approximately $197,000. Wells Fargo & Company MN lifted its holdings in shares of Protagonist Therapeutics by 60.8% in the 3rd quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock worth $169,000 after purchasing an additional 3,617 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Protagonist Therapeutics by 255.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 11,593 shares of the company’s stock worth $100,000 after purchasing an additional 8,327 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Protagonist Therapeutics in the 1st quarter worth approximately $116,000. 56.00% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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