Portage Biotech (NASDAQ:PRTG) Rating Reiterated by Cantor Fitzgerald

Portage Biotech (NASDAQ:PRTGGet Rating)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research note issued on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Portage Biotech’s FY2023 earnings at ($1.16) EPS.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright lowered their price objective on shares of Portage Biotech from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Oppenheimer assumed coverage on shares of Portage Biotech in a research report on Friday, July 15th. They issued a “buy” rating and a $26.00 price objective for the company.

Portage Biotech Trading Down 4.8 %

Shares of NASDAQ:PRTG opened at $6.87 on Wednesday. The company has a market capitalization of $116.38 million, a price-to-earnings ratio of -5.92 and a beta of 1.81. Portage Biotech has a 12 month low of $4.62 and a 12 month high of $23.99. The firm’s 50-day moving average is $8.54 and its 200 day moving average is $7.82.

Portage Biotech (NASDAQ:PRTGGet Rating) last issued its quarterly earnings results on Monday, August 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.22. As a group, equities analysts forecast that Portage Biotech will post -0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Portage Biotech

Several hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new stake in shares of Portage Biotech in the 2nd quarter worth approximately $79,000. Citadel Advisors LLC purchased a new stake in Portage Biotech during the second quarter valued at approximately $137,000. Millennium Management LLC purchased a new stake in Portage Biotech during the second quarter valued at approximately $92,000. Beacon Investment Advisory Services Inc. purchased a new stake in Portage Biotech during the second quarter valued at approximately $80,000. Finally, Renaissance Technologies LLC lifted its position in Portage Biotech by 36.6% during the first quarter. Renaissance Technologies LLC now owns 37,300 shares of the company’s stock valued at $245,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 0.97% of the company’s stock.

Portage Biotech Company Profile

(Get Rating)

Portage Biotech Inc, together with its subsidiaries, researches and develops pharmaceutical and biotechnology products. The company's product includes IMM60, an iNKT cell activator; IMM65, a PLGA-nanoparticle combined with a NY-ESO-1 peptide vaccine; INT230-6 that is in Phase I/II clinical trials for the treatment of solid tumors; STING, a small molecule that binds to the stimulator of interferon genes in cancer; CellPorter, a cell permeable peptide platform technology derived from human proteins; PPL-003, an ophthalmic solution; and SBI-101, a blood-conditioning technology to restore balance to the immune system after acute vital organ injury, such as acute kidney injury.

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