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

Protagonist Therapeutics (NASDAQ:PTGX) posted its 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%. The firm had revenue of $170.64 million during the quarter, compared to the consensus estimate of $56.65 million.

Protagonist Therapeutics Trading Up 0.7 %

Protagonist Therapeutics stock opened at $38.75 on Friday. The stock has a market cap of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. Protagonist Therapeutics has a 12-month low of $24.22 and a 12-month high of $48.89. The company has a fifty day simple moving average of $38.37 and a 200-day simple moving average of $41.85.

Insiders Place Their Bets

In related news, insider Arturo Md Molina sold 26,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,316 shares of company stock valued at $9,816,345. 5.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. 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. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Friday. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.