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

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Equities analysts expect Protagonist Therapeutics Inc (NASDAQ:PTGX) to announce earnings of ($0.30) per share for the current quarter, Zacks reports. Two analysts have provided estimates for Protagonist Therapeutics’ earnings. The highest EPS estimate is ($0.09) and the lowest is ($0.51). Protagonist Therapeutics posted earnings of ($0.89) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 66.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.

On average, analysts expect that Protagonist Therapeutics will report full-year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.23) to ($0.73). For the next fiscal year, analysts forecast that the business will report earnings of ($1.77) per share, with EPS estimates ranging from ($2.24) to ($1.29). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Protagonist Therapeutics.

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

A number of brokerages have weighed in on PTGX. Stifel Nicolaus lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, March 26th. BMO Capital Markets restated an “outperform” rating and set a $42.00 price objective (down previously from $44.00) on shares of Protagonist Therapeutics in a research note on Thursday, March 8th. Zacks Investment Research upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, March 13th. BidaskClub lowered Protagonist Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Finally, Barclays lowered Protagonist Therapeutics from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a research note on Wednesday, June 6th. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.00.

In other news, major shareholder X L.P. Canaan sold 77,591 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $6.37, for a total value of $494,254.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bryan Giraudo bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The stock was purchased at an average price of $6.46 per share, with a total value of $64,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $64,600. The disclosure for this purchase can be found here. In the last quarter, insiders sold 281,856 shares of company stock valued at $2,366,396. Insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PTGX. Bank of Montreal Can boosted its position in Protagonist Therapeutics by 1,086.0% during the 4th quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock valued at $123,000 after purchasing an additional 5,430 shares during the period. Cubist Systematic Strategies LLC boosted its position in Protagonist Therapeutics by 255.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 11,593 shares of the company’s stock valued at $100,000 after purchasing an additional 8,327 shares during the period. Prudential Financial Inc. acquired a new position in Protagonist Therapeutics during the 1st quarter valued at approximately $116,000. Two Sigma Advisers LP acquired a new position in Protagonist Therapeutics during the 4th quarter valued at approximately $362,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Protagonist Therapeutics by 46.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 19,300 shares of the company’s stock valued at $402,000 after purchasing an additional 6,100 shares during the period. Institutional investors own 56.28% of the company’s stock.

Protagonist Therapeutics traded up $0.12, reaching $7.46, during mid-day trading on Friday, according to MarketBeat. 1,441 shares of the company’s stock traded hands, compared to its average volume of 245,279. Protagonist Therapeutics has a 1-year low of $5.50 and a 1-year high of $23.97. The firm has a market cap of $153.73 million, a PE ratio of -3.51 and a beta of 3.28.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.

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