Protagonist Therapeutics (PTGX) Releases Earnings Results, Misses Estimates By $0.07 EPS

Protagonist Therapeutics (NASDAQ:PTGX) released its earnings results on Tuesday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.07), Bloomberg Earnings reports. The company had revenue of $11.67 million for the quarter, compared to the consensus estimate of $8.55 million.

Shares of Protagonist Therapeutics stock traded down $0.07 during trading on Wednesday, reaching $10.92. 477,543 shares of the company traded hands, compared to its average volume of 258,577. Protagonist Therapeutics has a 1-year low of $5.50 and a 1-year high of $23.97. The company has a market capitalization of $148.64 million, a PE ratio of -5.25 and a beta of 3.18.

A number of research analysts recently issued reports on PTGX shares. Barclays downgraded shares of Protagonist Therapeutics from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research report on Wednesday, June 6th. ValuEngine upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Leerink Swann boosted their target price on shares of Protagonist Therapeutics from $13.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.

In other Protagonist Therapeutics news, Director Bryan Giraudo purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was acquired at an average price of $6.46 per share, for a total transaction of $64,600.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $64,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder X L.P. Canaan sold 77,591 shares of the business’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $6.37, for a total transaction of $494,254.67. The disclosure for this sale can be found here. 13.80% of the stock is owned by insiders.

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.

Further Reading: Analyst Ratings

Earnings History for Protagonist Therapeutics (NASDAQ:PTGX)

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