Insider Buying: Portage Biotech (NASDAQ:ALP) Insider Acquires 7,000 Shares

Portage Biotech Inc. (NASDAQ:ALP) insider Fiorenzo Villani acquired 7,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were bought at an average cost of $5.07 per share, for a total transaction of $35,490.00. Following the acquisition, the insider owned 22,219 shares in the company, valued at approximately $112,650.33. The trade was a 46.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Portage Biotech Stock Performance

ALP stock opened at $4.04 on Monday. The company has a 50 day moving average price of $10.78 and a 200 day moving average price of $14.86. Portage Biotech Inc. has a fifty-two week low of $3.20 and a fifty-two week high of $690.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $6.26 million, a PE ratio of -0.49 and a beta of 0.54.

Portage Biotech (NASDAQ:ALP) last released its earnings results on Thursday, July 16th. The company reported $23.75 EPS for the quarter. The firm had revenue of $0.05 million during the quarter. Analysts forecast that Portage Biotech Inc. will post -14 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALP shares. HC Wainwright initiated coverage on shares of Portage Biotech in a report on Monday, August 17th. They issued a “neutral” rating and a $12.50 target price on the stock. Wall Street Zen upgraded shares of Portage Biotech to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Portage Biotech in a report on Friday, July 24th. Finally, Zacks Research upgraded Portage Biotech to a “hold” rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.50.

About Portage Biotech

Portage Biotech (NASDAQ:ATON) is a biotechnology company focused on acquiring, developing and advancing therapeutic candidates and platform technologies. The company concentrates its development efforts primarily in areas such as oncology, immunology/inflammation and infectious disease, seeking to move programs from discovery and preclinical stages into clinical development through subsidiary companies and collaborative arrangements.

Portage structures its operations to support a diversified pipeline, advancing both small molecules and biologics by funding preclinical research, conducting clinical trials, and managing regulatory interactions.