Portage Biotech (NASDAQ:PRTG) Issues Earnings Results, Beats Estimates By $0.03 EPS

Portage Biotech (NASDAQ:PRTG) announced its quarterly earnings data on Tuesday. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03, MarketWatch Earnings reports.

Shares of PRTG stock opened at $16.99 on Wednesday. Portage Biotech has a 12-month low of $11.85 and a 12-month high of $44.98. The firm has a fifty day moving average of $20.55 and a 200-day moving average of $22.42.

A number of research analysts have commented on the stock. B. Riley began coverage on shares of Portage Biotech in a research note on Thursday, September 2nd. They set a “buy” rating and a $40.00 price target for the company. Oppenheimer started coverage on shares of Portage Biotech in a report on Monday, September 20th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Cantor Fitzgerald started coverage on shares of Portage Biotech in a report on Thursday, August 19th. They issued an “overweight” rating and a $35.00 price target for the company.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Portage Biotech by 30.2% in the 3rd quarter. Geode Capital Management LLC now owns 45,629 shares of the company’s stock valued at $927,000 after acquiring an additional 10,590 shares in the last quarter. Millennium Management LLC lifted its position in Portage Biotech by 141.8% in the 3rd quarter. Millennium Management LLC now owns 28,210 shares of the company’s stock valued at $573,000 after acquiring an additional 16,543 shares in the last quarter. Morgan Stanley lifted its position in Portage Biotech by 36.9% in the 2nd quarter. Morgan Stanley now owns 10,990 shares of the company’s stock valued at $230,000 after acquiring an additional 2,962 shares in the last quarter. American International Group Inc. lifted its position in Portage Biotech by 35.4% during the 3rd quarter. American International Group Inc. now owns 2,736 shares of the company’s stock worth $56,000 after buying an additional 716 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Portage Biotech in the 2nd quarter valued at about $38,000. 7.10% of the stock is currently owned by institutional investors and hedge funds.

About Portage Biotech

Portage Biotech Inc, together with its subsidiaries, researches and develops pharmaceutical and biotechnology products. The company's product includes IMM60, an iNKT cell activator; IMM65, a PLGA-nanoparticle combined with a NY-ESO-1 peptide vaccine; INT230-6 that is in Phase I/II clinical trials for the treatment of solid tumors; STING, a small molecule that binds to the stimulator of interferon genes in cancer; CellPorter, a cell permeable peptide platform technology derived from human proteins; PPL-003, an ophthalmic solution; and SBI-101, a blood-conditioning technology to restore balance to the immune system after acute vital organ injury, such as acute kidney injury.

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