Protagonist Therapeutics Inc. [NASDAQ: PTGX] gained 9.33% on the last trading session, reaching $41.71 price per share at the time. The company report on June 16, 2021 that Protagonist Therapeutics Announces Pricing of $115 Million Upsized Public Offering of Common Stock.
Protagonist Therapeutics, Inc. (Nasdaq: PTGX), a clinical stage biopharmaceutical company, announced the pricing of its previously announced underwritten public offering of 3,046,358 shares of its common stock at a price to the public of $37.75 per share. Gross proceeds to Protagonist from the offering are expected to be approximately $115 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock are being offered by Protagonist. In connection with this offering, Protagonist has granted the underwriters a 30-day option to purchase up to 456,953 additional shares of its common stock at the public offering price less underwriting discounts and commissions.
J.P. Morgan Securities LLC, Jefferies LLC and Piper Sandler are acting as joint book-running managers for the offering. JMP Securities LLC and H.C. Wainwright & Co., LLC are acting as co-lead managers for the offering. The offering is expected to close on or about June 18, 2021, subject to satisfaction of customary closing conditions.
Protagonist Therapeutics Inc. represents 44.22 million in outstanding shares, while the company has a total market value of $1.56 billion with the latest information. PTGX stock price has been found in the range of $39.50 to $42.31.
If compared to the average trading volume of 327.55K shares, PTGX reached a trading volume of 2427563 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Protagonist Therapeutics Inc. [PTGX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTGX shares is $39.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTGX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northland Capital have made an estimate for Protagonist Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 24, 2021. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on May 24, 2021, representing the official price target for Protagonist Therapeutics Inc. stock.
The Average True Range (ATR) for Protagonist Therapeutics Inc. is set at 2.44, with the Price to Sales ratio for PTGX stock in the period of the last 12 months amounting to 50.16. The Price to Book ratio for the last quarter was 7.12, with the Price to Cash per share for the same quarter was set at 7.29.
Trading performance analysis for PTGX stock
Protagonist Therapeutics Inc. [PTGX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.06. With this latest performance, PTGX shares gained by 38.71% in over the last four-week period, additionally plugging by 99.38% over the last 6 months – not to mention a rise of 152.94% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTGX stock in for the last two-week period is set at 67.51, with the RSI for the last a single of trading hit 67.95, and the three-weeks RSI is set at 66.71 for Protagonist Therapeutics Inc. [PTGX]. The present Moving Average for the last 50 days of trading for this stock 31.30, while it was recorded at 38.89 for the last single week of trading, and 25.13 for the last 200 days.
Protagonist Therapeutics Inc. [PTGX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Protagonist Therapeutics Inc. [PTGX] shares currently have an operating margin of -230.60. Protagonist Therapeutics Inc.’s Net Margin is presently recorded at -231.07.
Return on Total Capital for PTGX is now -34.51, given the latest momentum, and Return on Invested Capital for the company is -34.83. Return on Equity for this stock declined to -36.79, with Return on Assets sitting at -27.47. When it comes to the capital structure of this company, Protagonist Therapeutics Inc. [PTGX] has a Total Debt to Total Equity ratio set at 2.13. Additionally, PTGX Total Debt to Total Capital is recorded at 2.09, with Total Debt to Total Assets ending up at 1.83. Long-Term Debt to Equity for the company is recorded at 1.61, with the Long-Term Debt to Total Capital now at 1.58.
Reflecting on the efficiency of the workforce at the company, Protagonist Therapeutics Inc. [PTGX] managed to generate an average of -$837,342 per employee. Receivables Turnover for the company is 5.06 with a Total Asset Turnover recorded at a value of 0.12.Protagonist Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.30 and a Current Ratio set at 8.30.
Protagonist Therapeutics Inc. [PTGX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Protagonist Therapeutics Inc. posted -0.61/share EPS, while the average EPS was predicted by analysts to be reported at -0.59/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTGX.
An analysis of insider ownership at Protagonist Therapeutics Inc. [PTGX]
There are presently around $1,849 million, in the hands of institutional investors. The top three institutional holders of PTGX stocks are: FMR LLC with ownership of 6,571,227, which is approximately 1.836% of the company’s market cap and around 1.40% of the total institutional ownership; BVF INC/IL, holding 3,959,451 shares of the stock with an approximate value of $165.15 million in PTGX stocks shares; and RTW INVESTMENTS, LP, currently with $146.29 million in PTGX stock with ownership of nearly -3.909% of the company’s market capitalization.
Positions in Protagonist Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 66 institutional holders increased their position in Protagonist Therapeutics Inc. [NASDAQ:PTGX] by around 3,379,571 shares. Additionally, 68 investors decreased positions by around 3,179,528 shares, while 18 investors held positions by with 37,777,250 shares. The mentioned changes placed institutional holdings at 44,336,349 shares, according to the latest SEC report filing. PTGX stock had 23 new institutional investments in for a total of 1,414,347 shares, while 26 institutional investors sold positions of 860,112 shares during the same period.