Protagonist Therapeutics (NASDAQ:PTGX) Announces Earnings Results, Beats Estimates By $0.57 EPS

Protagonist Therapeutics (NASDAQ:PTGX) announced its quarterly earnings data on Thursday. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.57, FiscalAI reports. The business had revenue of $274.41 million for the quarter, compared to analysts’ expectations of $238.49 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%.

Protagonist Therapeutics Trading Down 2.4%

NASDAQ:PTGX traded down $3.22 during trading hours on Friday, hitting $132.04. 972,922 shares of the company were exchanged, compared to its average volume of 695,258. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 135.31 and a beta of 1.21. Protagonist Therapeutics has a one year low of $76.70 and a one year high of $160.81. The company has a fifty day simple moving average of $141.52 and a 200 day simple moving average of $117.83.

Analysts Set New Price Targets

A number of brokerages have weighed in on PTGX. TD Cowen raised their target price on shares of Protagonist Therapeutics from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Citigroup upped their price target on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Wolfe Research reissued an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, August 31st. Barclays raised their price objective on Protagonist Therapeutics from $153.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Finally, Johnson Rice set a $165.00 target price on Protagonist Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $166.67.

Insider Transactions at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 7,278 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $144.10, for a total transaction of $1,048,759.80. Following the completion of the transaction, the chief executive officer directly owned 522,968 shares in the company, valued at $75,359,688.80. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Asif Ali sold 58,629 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $141.78, for a total value of $8,312,419.62. Following the completion of the transaction, the chief financial officer directly owned 59,003 shares in the company, valued at approximately $8,365,445.34. This represents a 49.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 283,629 shares of company stock worth $41,443,786 in the last quarter. Corporate insiders own 5.19% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on discovering and developing peptide-based medicines for immune-mediated and hematologic diseases. The company uses its proprietary peptide technology platform to design therapies intended to act on specific biological pathways and receptors.

Its leading program is icotrokinra, also known as JNJ-2113, an oral, targeted inhibitor of the interleukin-23 receptor being developed in collaboration with Janssen Pharmaceuticals for inflammatory and immune-mediated conditions, including psoriasis and inflammatory bowel diseases.