Protagonist Therapeutics, Inc. (PTGX) Posts Quarterly Earnings Results, Misses Estimates By $0.70 EPS

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.70, Bloomberg Earnings reports.

Protagonist Therapeutics (NASDAQ PTGX) traded down 2.78% during midday trading on Friday, reaching $11.91. 60,285 shares of the company traded hands. The stock’s 50 day moving average is $12.28 and its 200 day moving average is $12.30. Protagonist Therapeutics has a one year low of $8.00 and a one year high of $26.36. The company’s market capitalization is $201.30 million.

PTGX has been the topic of several research reports. BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $34.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Zacks Investment Research raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BTIG Research initiated coverage on shares of Protagonist Therapeutics in a report on Friday, July 21st. They set a “buy” rating and a $36.00 price target on the stock. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $26.00.

In other Protagonist Therapeutics news, insider David Y. Liu sold 3,500 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $12.68, for a total transaction of $44,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in Protagonist Therapeutics stock. California State Teachers Retirement System raised its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 8.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,600 shares of the company’s stock after buying an additional 1,300 shares during the period. California State Teachers Retirement System owned 0.10% of Protagonist Therapeutics worth $188,000 as of its most recent SEC filing. 47.46% of the stock is currently owned by hedge funds and other institutional investors.

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About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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