Portage Biotech (NASDAQ:ATON) Shares Up 3.8% – Should You Buy?

Portage Biotech Inc. (NASDAQ:ATON)’s stock price shot up 3.8% during mid-day trading on Wednesday . The company traded as high as $0.3504 and last traded at $0.3320. 9,777,470 shares changed hands during trading, an increase of 209% from the average session volume of 3,165,393 shares. The stock had previously closed at $0.32.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on Portage Biotech in a report on Tuesday, February 24th. They set a “buy” rating and a $2.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Portage Biotech presently has a consensus rating of “Hold” and a consensus target price of $2.00.

Portage Biotech Price Performance

The firm has a market capitalization of $7.78 million, a P/E ratio of -0.04 and a beta of 0.49. The company’s 50-day moving average is $0.33.

Portage Biotech Company Profile

Portage Biotech (NASDAQ:ATON) is a biotechnology company focused on acquiring, developing and advancing therapeutic candidates and platform technologies. The company concentrates its development efforts primarily in areas such as oncology, immunology/inflammation and infectious disease, seeking to move programs from discovery and preclinical stages into clinical development through subsidiary companies and collaborative arrangements.

Portage structures its operations to support a diversified pipeline, advancing both small molecules and biologics by funding preclinical research, conducting clinical trials, and managing regulatory interactions.