Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Protagonist Therapeutics (NASDAQ:PTGX) announced its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03), Zacks reports. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.78%. The business had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX traded down $0.24 during mid-day trading on Friday, reaching $79.54. 882,282 shares of the company’s stock traded hands, compared to its average volume of 1,586,433. The company has a 50 day moving average price of $68.54 and a 200-day moving average price of $57.56. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 128.29 and a beta of 2.22. Protagonist Therapeutics has a 12-month low of $33.31 and a 12-month high of $93.25.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush raised their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Truist Financial lifted their target price on shares of Protagonist Therapeutics from $76.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Johnson Rice set a $112.00 price target on Protagonist Therapeutics in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $82.08.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the transaction, the director owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This trade represents a 70.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,000 shares of company stock valued at $1,473,440 over the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTGX. Commodore Capital LP bought a new stake in Protagonist Therapeutics during the second quarter valued at approximately $59,415,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Protagonist Therapeutics by 218.0% during the 2nd 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 during the last quarter. Holocene Advisors LP bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $29,311,000. State Street Corp grew its position in shares of Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Protagonist Therapeutics by 64.8% in the 2nd quarter. Bank of America Corp DE now owns 851,832 shares of the company’s stock worth $47,081,000 after purchasing an additional 335,087 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.