What is Wedbush’s Forecast for PTGX Q3 Earnings?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) – Equities researchers at Wedbush issued their Q3 2024 EPS estimates for Protagonist Therapeutics in a research report issued to clients and investors on Monday, November 4th. Wedbush analyst Y. Zhong anticipates that the company will post earnings per share of ($0.53) for the quarter. Wedbush currently has a “Outperform” rating and a $58.00 target price on the stock. The consensus estimate for Protagonist Therapeutics’ current full-year earnings is $2.46 per share. Wedbush also issued estimates for Protagonist Therapeutics’ Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at $4.15 EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.63) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.67) EPS, FY2025 earnings at ($2.56) EPS, FY2026 earnings at ($2.73) EPS, FY2027 earnings at ($2.20) EPS and FY2028 earnings at ($0.42) EPS.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million.

Several other research firms also recently commented on PTGX. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities decreased their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. BTIG Research lifted their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, HC Wainwright lifted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $47.61 on Thursday. The firm’s 50 day simple moving average is $45.47 and its 200 day simple moving average is $37.88. The company has a market capitalization of $2.80 billion, a P/E ratio of 18.17 and a beta of 2.17. Protagonist Therapeutics has a 1-year low of $14.78 and a 1-year high of $48.89.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently modified their holdings of PTGX. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter worth about $35,000. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter worth about $43,000. CWM LLC raised its position in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Protagonist Therapeutics in the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In other news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at approximately $540,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.