Protagonist Therapeutics (NASDAQ:PTGX) Releases Quarterly Earnings Results, Beats Estimates By $2.07 EPS

Protagonist Therapeutics (NASDAQ:PTGX) announced its quarterly earnings results on Friday. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $2.07, Zacks reports. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX traded up $0.07 during mid-day trading on Friday, hitting $38.56. The company had a trading volume of 230,875 shares, compared to its average volume of 543,087. Protagonist Therapeutics has a 1-year low of $24.22 and a 1-year high of $48.89. The business’s 50-day simple moving average is $38.41 and its 200 day simple moving average is $41.83. The company has a market capitalization of $2.30 billion, a PE ratio of 14.53 and a beta of 2.22.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PTGX shares. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price on the stock. BMO Capital Markets began coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $56.00.

Insider Activity

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the transaction, the insider now directly owns 256,174 shares in the company, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,316 shares of company stock worth $9,816,345. 5.40% of the stock is currently owned by corporate insiders.

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.