Zacks: Analysts Anticipate Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Will Post Quarterly Sales of $3.43 Million

Equities research analysts predict that Protagonist Therapeutics, Inc. (NASDAQ:PTGX) will announce sales of $3.43 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Protagonist Therapeutics’ earnings. The lowest sales estimate is $2.30 million and the highest is $5.00 million. Protagonist Therapeutics reported sales of $13.11 million during the same quarter last year, which indicates a negative year over year growth rate of 73.8%. The business is scheduled to issue its next earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that Protagonist Therapeutics will report full year sales of $13.82 million for the current financial year, with estimates ranging from $8.45 million to $18.95 million. For the next fiscal year, analysts anticipate that the business will report sales of $43.82 million, with estimates ranging from $9.10 million to $75.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Protagonist Therapeutics.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 4th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.14). The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $5.60 million. Protagonist Therapeutics had a negative net margin of 299.39% and a negative return on equity of 30.58%.

PTGX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Protagonist Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. SVB Leerink lifted their price objective on Protagonist Therapeutics from $41.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target (down from $60.00) on shares of Protagonist Therapeutics in a research note on Monday, September 20th. JPMorgan Chase & Co. lowered Protagonist Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $60.00 to $49.00 in a research note on Monday, September 20th. Finally, Piper Sandler boosted their price target on Protagonist Therapeutics from $53.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $51.63.

In other Protagonist Therapeutics news, insider David Y. Liu sold 14,779 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $47.56, for a total value of $702,889.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $45,000. O Shaughnessy Asset Management LLC purchased a new position in Protagonist Therapeutics during the first quarter valued at $57,000. E Fund Management Co. Ltd. bought a new stake in shares of Protagonist Therapeutics in the 1st quarter worth $82,000. Royal Bank of Canada increased its holdings in shares of Protagonist Therapeutics by 179.3% in the 1st quarter. Royal Bank of Canada now owns 3,324 shares of the company’s stock worth $86,000 after purchasing an additional 2,134 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Protagonist Therapeutics in the second quarter worth $123,000.

Shares of NASDAQ PTGX traded up $0.41 during trading hours on Wednesday, hitting $19.22. The company had a trading volume of 45,438 shares, compared to its average volume of 589,845. The firm’s 50 day moving average is $44.05 and its 200-day moving average is $37.52. Protagonist Therapeutics has a 1-year low of $12.80 and a 1-year high of $50.54. The stock has a market capitalization of $913.93 million, a P/E ratio of -9.80 and a beta of 1.56.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc a clinical-stage biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address unmet medical needs. Its product pipeline include PTG-300, PTG-200, and PN-943 The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.

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