Protagonist Therapeutics (NASDAQ:PTGX) Releases Earnings Results, Beats Estimates By $0.57 EPS

Protagonist Therapeutics (NASDAQ:PTGX) issued its earnings results on Thursday. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.57, FiscalAI reports. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%. The company had revenue of $274.41 million for the quarter, compared to analysts’ expectations of $238.49 million.

Protagonist Therapeutics Trading Down 2.4%

Shares of PTGX traded down $3.22 during mid-day trading on Friday, reaching $132.04. The company’s stock had a trading volume of 972,922 shares, compared to its average volume of 695,258. The company’s fifty day moving average price is $141.52 and its two-hundred day moving average price is $117.83. Protagonist Therapeutics has a 52 week low of $76.70 and a 52 week high of $160.81. The stock has a market cap of $8.54 billion, a PE ratio of 135.31 and a beta of 1.21.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinsesh Patel sold 7,278 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $144.10, for a total value of $1,048,759.80. Following the completion of the sale, the chief executive officer owned 522,968 shares in the company, valued at approximately $75,359,688.80. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the transaction, the chief financial officer directly owned 59,003 shares in the company, valued at $8,365,445.34. This trade represents a 49.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 283,629 shares of company stock valued at $41,443,786 in the last three months. 5.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays raised their price objective on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Citigroup lifted their price objective on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, August 31st. Zacks Research raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 14th. Finally, Weiss Ratings downgraded Protagonist Therapeutics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and an average price target of $166.67.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.