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Why Protagonist Therapeutics Inc. (NASDAQ: PTGX) Is A Stock Not To Be Discarded In 2023

In the last trading session, 1.95 million shares of the Protagonist Therapeutics Inc. (NASDAQ:PTGX) were traded, and its beta was 1.95. Most recently the company’s share price was $25.20, and it changed around -$0.4 or -1.56% from the last close, which brings the market valuation of the company to $1.39B. PTGX currently trades at a discount to its 52-week high of $26.87, offering almost -6.63% off that amount. The share price’s 52-week low was $6.91, which indicates that the current value has risen by an impressive 72.58% since then. We note from Protagonist Therapeutics Inc.’s average daily trading volume that its 10-day average is 0.91 million shares, with the 3-month average coming to 1.66 million.

Protagonist Therapeutics Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended PTGX as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Protagonist Therapeutics Inc. is expected to report earnings per share of -$0.68 for the current quarter.

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Protagonist Therapeutics Inc. (NASDAQ:PTGX) trade information

Instantly PTGX has showed a red trend with a performance of -1.56% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 26.87 on Tuesday, 05/23/23 increased the stock’s daily price by 6.22%. The company’s shares are currently up 130.98% year-to-date, but still down -0.79% over the last five days. On the other hand, Protagonist Therapeutics Inc. (NASDAQ:PTGX) is 6.11% down in the 30-day period. We can see from the shorts that 3.72 million shares have been sold at a short interest cover period of 3.2 day(s).

The consensus price target as assigned by Wall Street analysts is $34.67, which translates to bulls needing to increase their stock price by 27.31% from its current value. Analyst projections state that PTGX is forecast to be at a low of $28.00 and a high of $41.00. In order for the stock price to hit the forecast high, the stock would need to plunge -62.7% from its current level, while the stock would need to crash -11.11% from its current level to reach the projected low.

Protagonist Therapeutics Inc. (PTGX) estimates and forecasts

Protagonist Therapeutics Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 211.88 percent over the past six months and at a 4.62% annual growth rate that is well below the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 19.00% in revenue this quarter, and will report a decrease of -6.30% in the next quarter. The year-over-year growth rate is expected to be -37.30%, down from the previous year.

6 analysts expect Protagonist Therapeutics Inc. to make $8.33 million in revenue for the quarter ending Sep 2023.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -4.50%.

PTGX Dividends

Protagonist Therapeutics Inc.’s next quarterly earnings report is expected to be released around August 02 and August 07.

Protagonist Therapeutics Inc. (NASDAQ:PTGX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.67% of Protagonist Therapeutics Inc. shares, and 104.10% of them are in the hands of institutional investors. The stock currently has a share float of 105.87%. Protagonist Therapeutics Inc. stock is held by 209 institutions, with RTW Investments LP being the largest institutional investor. By Mar 30, 2023, it held 8.04% of the shares, which is about 4.6 million shares worth $105.82 million.

Blackrock Inc., with 7.69% or 4.4 million shares worth $101.25 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 2.51 million shares worth $40.66 million, making up 4.87% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.39 million shares worth around $15.2 million, which represents about 2.71% of the total shares outstanding.

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