Protagonist Therapeutics (NASDAQ:PTGX) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Protagonist Therapeutics (NASDAQ:PTGX) released its earnings results on Wednesday. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.06, FiscalAI reports. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $213.47 million for the quarter, compared to the consensus estimate of $199.81 million. The firm’s revenue for the quarter was up 3746.8% on a year-over-year basis.

Protagonist Therapeutics Stock Up 1.1%

Shares of PTGX traded up $1.51 during trading hours on Wednesday, reaching $137.32. The company’s stock had a trading volume of 430,510 shares, compared to its average volume of 653,881. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of -75.87 and a beta of 1.78. Protagonist Therapeutics has a 1-year low of $50.49 and a 1-year high of $143.29. The company has a 50 day moving average of $122.46 and a two-hundred day moving average of $104.48.

Insider Transactions at Protagonist Therapeutics

In related news, Director Bryan Giraudo sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $100.00, for a total transaction of $600,000.00. Following the completion of the sale, the director directly owned 31,825 shares in the company, valued at approximately $3,182,500. This trade represents a 15.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 161,130 shares of company stock valued at $16,355,220 over the last three months. 5.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of PTGX. Janus Henderson Group PLC boosted its stake in shares of Protagonist Therapeutics by 140.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company’s stock valued at $231,355,000 after buying an additional 1,549,160 shares during the period. Wellington Management Group LLP increased its stake in shares of Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after acquiring an additional 1,262,977 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Protagonist Therapeutics during the third quarter worth $72,114,000. Commodore Capital LP purchased a new stake in shares of Protagonist Therapeutics during the second quarter worth $59,415,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Protagonist Therapeutics by 218.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock worth $60,369,000 after acquiring an additional 748,758 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PTGX shares. Wedbush upped their price target on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $110.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Wolfe Research began coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 target price for the company. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.