Brokerages Expect Protagonist Therapeutics Inc (PTGX) Will Post Quarterly Sales of $2.50 Million

Equities research analysts forecast that Protagonist Therapeutics Inc (NASDAQ:PTGX) will post $2.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Protagonist Therapeutics’ earnings, with estimates ranging from $200,000.00 to $4.80 million. Protagonist Therapeutics reported sales of $10.78 million during the same quarter last year, which indicates a negative year-over-year growth rate of 76.8%. The business is scheduled to issue its next earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Protagonist Therapeutics will report full year sales of $11.35 million for the current year, with estimates ranging from $10.50 million to $12.20 million. For the next year, analysts forecast that the company will post sales of $2.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Protagonist Therapeutics.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.15). Protagonist Therapeutics had a negative return on equity of 33.94% and a negative net margin of 125.87%. The company had revenue of $2.35 million for the quarter, compared to the consensus estimate of $5.45 million.

A number of research firms recently weighed in on PTGX. ValuEngine raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, February 22nd. They set an “outperform” rating and a $17.00 target price for the company. Zacks Investment Research cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Nomura initiated coverage on shares of Protagonist Therapeutics in a research note on Thursday, December 6th. They set a “buy” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $15.45.

Protagonist Therapeutics stock traded up $0.10 during mid-day trading on Wednesday, reaching $12.67. The company’s stock had a trading volume of 204,727 shares, compared to its average volume of 237,670. The company has a market cap of $293.51 million, a P/E ratio of -7.28 and a beta of 2.17. Protagonist Therapeutics has a 12 month low of $5.49 and a 12 month high of $14.36.

In other news, insider David Y. Liu sold 3,821 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $7.74, for a total value of $29,574.54. Following the completion of the transaction, the insider now directly owns 37,007 shares in the company, valued at approximately $286,434.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,909 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $7.74, for a total transaction of $84,435.66. Following the completion of the transaction, the chief executive officer now owns 367,396 shares of the company’s stock, valued at $2,843,645.04. The disclosure for this sale can be found here. Insiders sold a total of 17,570 shares of company stock valued at $136,815 in the last quarter. Corporate insiders own 13.80% of the company’s stock.

Large investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its holdings in Protagonist Therapeutics by 75.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,645 shares of the company’s stock worth $132,000 after acquiring an additional 8,450 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Protagonist Therapeutics by 2,262.7% in the second quarter. Bank of America Corp DE now owns 21,217 shares of the company’s stock worth $143,000 after buying an additional 20,319 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Protagonist Therapeutics by 17.2% in the fourth quarter. Northern Trust Corp now owns 34,624 shares of the company’s stock worth $234,000 after buying an additional 5,084 shares in the last quarter. Trexquant Investment LP purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $304,000. Finally, Monashee Investment Management LLC purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $442,000. Institutional investors own 59.37% of the company’s stock.

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.

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