Protagonist Therapeutics Inc (PTGX) Expected to Announce Quarterly Sales of $3.65 Million

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Wall Street analysts expect Protagonist Therapeutics Inc (NASDAQ:PTGX) to post $3.65 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Protagonist Therapeutics’ earnings, with the highest sales estimate coming in at $5.70 million and the lowest estimate coming in at $1.60 million. Protagonist Therapeutics posted sales of $11.67 million in the same quarter last year, which suggests a negative year over year growth rate of 68.7%. The firm is scheduled to issue its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Protagonist Therapeutics will report full-year sales of $10.78 million for the current financial year, with estimates ranging from $8.90 million to $12.66 million. For the next year, analysts anticipate that the company will post sales of $11.25 million, with estimates ranging from $2.50 million to $20.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Protagonist Therapeutics.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.58) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.01. The firm had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $2.50 million. Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 40.78%.

PTGX has been the topic of several recent research reports. ValuEngine upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, March 25th. BidaskClub cut shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday. Stifel Nicolaus upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $17.00 in a report on Wednesday, May 8th. Finally, BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a report on Friday, February 22nd. They set an “outperform” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $16.33.

Shares of NASDAQ PTGX traded up $0.10 during mid-day trading on Friday, reaching $10.80. The company had a trading volume of 1,842 shares, compared to its average volume of 149,939. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt-to-equity ratio of 0.07. The stock has a market cap of $244.26 million, a PE ratio of -6.10 and a beta of 1.96. Protagonist Therapeutics has a 52 week low of $5.49 and a 52 week high of $14.36.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its position in shares of Protagonist Therapeutics by 1,675.5% during the first quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock valued at $139,000 after buying an additional 10,405 shares during the last quarter. Jefferies Group LLC purchased a new position in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $177,000. D. E. Shaw & Co. Inc. raised its position in shares of Protagonist Therapeutics by 75.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,645 shares of the company’s stock valued at $132,000 after purchasing an additional 8,450 shares during the last quarter. Citigroup Inc. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $319,000. Finally, Bank of America Corp DE raised its position in shares of Protagonist Therapeutics by 94.3% in the 4th quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock valued at $178,000 after purchasing an additional 12,819 shares during the last quarter. Institutional investors own 59.43% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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