Protagonist Therapeutics (NASDAQ:PTGX) Posts Earnings Results, Beats Expectations By $0.70 EPS

Key Points

• Earnings beat: Protagonist reported $0.05 EPS versus consensus -$0.65 (a $0.70 beat) and revenue of $56.37M versus $12.21M expected.
• Still unprofitable: The company carries a negative net margin (-282.83%) and negative ROE (19.89%), while the stock trades near $99 with a $6.38B market cap and a consensus analyst target of $108.15 (mostly Buy ratings).
• Insider selling: CEO Dinesh V. Patel sold 54,641 shares (~$5.52M) and insiders sold 158,215 shares (~$15.54M) in the last three months, leaving insiders with 4.90% ownership.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) posted its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.65) by $0.70, FiscalAI reports. Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The business had revenue of $56.37 million for the quarter, compared to analysts' expectations of $12.21 million.

Protagonist Therapeutics Stock Performance

PTGX traded down $0.31 during trading on Tuesday, hitting $99.21. The stock had a trading volume of 392,055 shares, compared to its average volume of 774,216. The firm has a market capitalization of $6.38 billion, a P/E ratio of -48.40 and a beta of 1.89. Protagonist Therapeutics has a twelve month low of $41.28 and a twelve month high of $107.84. The company's 50-day moving average price is $98.82 and its 200 day moving average price is $89.07.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PTGX shares. Citigroup lifted their target price on Protagonist Therapeutics from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Citizens Jmp lifted their target price on Protagonist Therapeutics from $102.00 to $112.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 26th. TD Cowen lifted their target price on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Jefferies Financial Group reiterated a "buy" rating and set a $121.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Finally, Truist Financial lifted their target price on Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.15.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 54,641 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $101.00, for a total value of $5,518,741.00. Following the sale, the chief executive officer owned 524,938 shares of the company's stock, valued at $53,018,738. The trade was a 9.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lewis T. Williams sold 18,000 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $82.42, for a total transaction of $1,483,560.00. Following the transaction, the director owned 7,825 shares in the company, valued at approximately $644,936.50. This trade represents a 69.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 158,215 shares of company stock worth $15,539,786. 4.90% of the stock is currently owned by insiders.

Institutional Trading of Protagonist Therapeutics

Hedge funds have recently modified their holdings of the business. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics during the fourth quarter worth $27,000. Truvestments Capital LLC grew its holdings in Protagonist Therapeutics by 60.8% during the fourth quarter. Truvestments Capital LLC now owns 1,161 shares of the company's stock worth $101,000 after acquiring an additional 439 shares during the period. Osaic Holdings Inc. grew its holdings in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock worth $65,000 after acquiring an additional 525 shares during the period. Quadrant Capital Group LLC acquired a new position in Protagonist Therapeutics during the third quarter worth $90,000. Finally, Smartleaf Asset Management LLC grew its holdings in Protagonist Therapeutics by 23.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,727 shares of the company's stock worth $151,000 after acquiring an additional 324 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc NASDAQ: PTGX is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist's approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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