Protagonist Therapeutics (NASDAQ:PTGX) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.03), Zacks reports. Protagonist Therapeutics had a return on equity of 6.78% and a net margin of 21.94%.The company had revenue of $4.71 million for the quarter, compared to analysts' expectations of $5.41 million.

Protagonist Therapeutics Stock Performance

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NASDAQ PTGX traded down $0.24 during trading hours on Friday, reaching $79.54. The stock had a trading volume of 882,282 shares, compared to its average volume of 1,586,433. Protagonist Therapeutics has a 52-week low of $33.31 and a 52-week high of $93.25. The stock has a fifty day moving average of $68.54 and a 200 day moving average of $57.48. The stock has a market cap of $4.95 billion, a P/E ratio of 128.29 and a beta of 2.22.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PTGX. BTIG Research reiterated a "buy" rating and issued a $82.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Weiss Ratings reissued a "sell (d+)" rating on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Barclays raised their target price on shares of Protagonist Therapeutics from $72.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Finally, Wedbush increased their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.08.

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View Our Latest Report on PTGX

Insider Buying and Selling

In other news, Director William D. Waddill sold 12,000 shares of the company's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the sale, the director directly owned 5,130 shares of the company's stock, valued at $418,710.60. This represents a 70.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 20,000 shares of company stock worth $1,473,440. Insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. Commodore Capital LP acquired a new stake in Protagonist Therapeutics during the 2nd quarter worth about $59,415,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Protagonist Therapeutics by 218.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company's stock worth $60,369,000 after buying an additional 748,758 shares during the last quarter. Holocene Advisors LP acquired a new stake in Protagonist Therapeutics during the second quarter worth about $29,311,000. State Street Corp raised its position in Protagonist Therapeutics by 18.5% during the second quarter. State Street Corp now owns 3,207,543 shares of the company's stock valued at $177,281,000 after acquiring an additional 500,924 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Protagonist Therapeutics by 64.8% in the second quarter. Bank of America Corp DE now owns 851,832 shares of the company's stock valued at $47,081,000 after acquiring an additional 335,087 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

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.

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