Protagonist Therapeutics, Inc. to Post FY2024 Earnings of $1.75 Per Share, Capital One Financial Forecasts (NASDAQ:PTGX)

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Equities research analysts at Capital One Financial decreased their FY2024 EPS estimates for shares of Protagonist Therapeutics in a research note issued on Tuesday, August 6th. Capital One Financial analyst T. Chiang now forecasts that the company will post earnings per share of $1.75 for the year, down from their prior forecast of $2.31. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.24 per share. Capital One Financial also issued estimates for Protagonist Therapeutics’ FY2025 earnings at ($1.60) EPS.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million.

A number of other research analysts have also commented on PTGX. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Wednesday. BTIG Research upped their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. HC Wainwright boosted their target price on Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.80.

Protagonist Therapeutics Price Performance

PTGX opened at $38.72 on Friday. Protagonist Therapeutics has a 12 month low of $13.72 and a 12 month high of $42.67. The stock’s 50 day moving average price is $35.11 and its 200 day moving average price is $30.47. The stock has a market cap of $2.27 billion, a P/E ratio of 15.87 and a beta of 2.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the first quarter valued at approximately $35,000. Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics during the first quarter worth $69,000. Seven Eight Capital LP bought a new position in Protagonist Therapeutics during the first quarter valued at about $202,000. Los Angeles Capital Management LLC bought a new position in Protagonist Therapeutics during the fourth quarter valued at about $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Protagonist Therapeutics by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after acquiring an additional 1,093 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at $480,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 35,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the transaction, the chief executive officer now owns 515,415 shares of the company’s stock, valued at approximately $18,137,453.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $480,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,000 shares of company stock valued at $1,831,650. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.