Portage Biotech (NASDAQ:ALP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Portage Biotech (NASDAQ:ALP) to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

ALP has been the topic of a number of other reports. Zacks Research upgraded shares of Portage Biotech to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Portage Biotech in a research report on Friday, July 24th. Finally, HC Wainwright assumed coverage on Portage Biotech in a research note on Monday, August 17th. They set a “neutral” rating and a $12.50 price objective on the stock. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $12.50.

Portage Biotech Price Performance

NASDAQ:ALP opened at $4.16 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.45 million, a P/E ratio of -0.51 and a beta of 0.54. Portage Biotech has a 12 month low of $3.20 and a 12 month high of $690.00. The business’s 50-day moving average is $10.53 and its 200 day moving average is $14.74.

Portage Biotech (NASDAQ:ALP) last posted its earnings results on Thursday, July 16th. The company reported $23.75 EPS for the quarter. The firm had revenue of $0.05 million for the quarter. On average, equities research analysts forecast that Portage Biotech will post -14 earnings per share for the current fiscal year.

Insider Activity

In other Portage Biotech news, insider Fiorenzo Villani bought 7,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average price of $5.07 per share, for a total transaction of $35,490.00. Following the completion of the transaction, the insider directly owned 22,219 shares of the company’s stock, valued at approximately $112,650.33. This represents a 46.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brittany Kaiser bought 9,350 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $5.35 per share, for a total transaction of $50,022.50. Following the purchase, the chief executive officer owned 16,766 shares of the company’s stock, valued at approximately $89,698.10. The trade was a 126.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 17,350 shares of company stock valued at $90,612.

Portage Biotech Company Profile

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.