Zacks: Brokerages Anticipate Protagonist Therapeutics Inc (NASDAQ:PTGX) Will Announce Quarterly Sales of $5.25 Million

Posted by Don Miller on Dec 3rd, 2019

Brokerages expect Protagonist Therapeutics Inc (NASDAQ:PTGX) to post sales of $5.25 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Protagonist Therapeutics’ earnings. The highest sales estimate is $5.50 million and the lowest is $5.00 million. Protagonist Therapeutics posted sales of $2.35 million in the same quarter last year, which suggests a positive year-over-year growth rate of 123.4%. The business is expected to announce its next quarterly earnings report on Tuesday, March 10th.

On average, analysts expect that Protagonist Therapeutics will report full year sales of $4.81 million for the current year, with estimates ranging from $2.51 million to $8.90 million. For the next fiscal year, analysts forecast that the business will post sales of $18.00 million, with estimates ranging from $16.00 million to $20.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Protagonist Therapeutics.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.61) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.10. The business had revenue of $4.14 million during the quarter, compared to the consensus estimate of $5.75 million. Protagonist Therapeutics had a negative return on equity of 74.86% and a negative net margin of 209.02%.

A number of research firms recently weighed in on PTGX. ValuEngine downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. BidaskClub cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Zacks Investment Research raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, November 19th. Svb Leerink reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. Finally, Nomura reaffirmed a “buy” rating and set a $29.00 price target on shares of Protagonist Therapeutics in a research report on Sunday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.60.

NASDAQ PTGX opened at $8.85 on Tuesday. The company has a market capitalization of $236.70 million, a price-to-earnings ratio of -5.09 and a beta of 1.52. Protagonist Therapeutics has a twelve month low of $6.18 and a twelve month high of $16.67. The stock has a fifty day simple moving average of $10.94 and a 200 day simple moving average of $11.82. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.07.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its position in Protagonist Therapeutics by 20.7% during the third quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock valued at $187,000 after acquiring an additional 2,662 shares during the last quarter. California State Teachers Retirement System boosted its position in Protagonist Therapeutics by 13.7% during the third quarter. California State Teachers Retirement System now owns 26,542 shares of the company’s stock valued at $319,000 after acquiring an additional 3,195 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Protagonist Therapeutics by 1,433.3% during the third quarter. Meeder Asset Management Inc. now owns 3,450 shares of the company’s stock valued at $41,000 after acquiring an additional 3,225 shares during the last quarter. Wells Fargo & Company MN boosted its position in Protagonist Therapeutics by 25.9% during the second quarter. Wells Fargo & Company MN now owns 20,553 shares of the company’s stock valued at $248,000 after acquiring an additional 4,224 shares during the last quarter. Finally, Algert Global LLC boosted its position in Protagonist Therapeutics by 48.0% during the second quarter. Algert Global LLC now owns 15,517 shares of the company’s stock valued at $188,000 after acquiring an additional 5,030 shares during the last quarter. 69.62% of the stock is currently owned by institutional investors and hedge funds.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.