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Protagonist Therapeutics
(NASDAQ:PTGX)
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Rating:70Outperform
Price Target:
$142.00
▼(-5.70% Downside)
Action:Upgraded
Date:08/06/26
Overall score is driven primarily by improved financial performance (profitability and positive cash generation with a very strong, low-debt balance sheet) and a technically bullish price trend (trading above key moving averages with positive MACD). These are partly offset by weaker valuation signals due to a negative P/E and no dividend yield, while corporate events are a net positive due to the product launch and value-accretive deal terms.
Positive Factors
Commercial and Partnership Progress
ICOTYDE’s launch creates a commercial revenue stream beyond clinical-stage development, while the milestone demonstrates partner economic support. The rusfertide transaction also improved royalties and generated substantial cash, strengthening the company’s ability to fund additional pipeline programs.
Negative Factors
Earnings Volatility
The sharp shift from significant losses to recent profit makes forward earnings durability uncertain. Such volatility can complicate budgeting and capital allocation, and it suggests that future results may depend heavily on the timing and size of milestones, licensing receipts, or other irregular revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial and Partnership Progress
ICOTYDE’s launch creates a commercial revenue stream beyond clinical-stage development, while the milestone demonstrates partner economic support. The rusfertide transaction also improved royalties and generated substantial cash, strengthening the company’s ability to fund additional pipeline programs.
Read all positive factors
Protagonist Therapeutics (PTGX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.96B
Dividend YieldN/A
Average Volume (3M)802.05K
Price to Earnings (P/E)113.6
Beta (1Y)-0.10
Revenue Growth34.81%
EPS Growth44.59%
CountryUS
Employees141
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.22
Shares Outstanding64,708,280
10 Day Avg. Volume778,983
30 Day Avg. Volume802,048
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)9.03
Price to Sales (P/S)120.66
P/FCF Ratio99.01
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue28.12
Enterprise Value/Gross Profit28.16
Enterprise Value/Ebitda92.35
Forecast
1Y Price Target
$174.58Price Target Upside15.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)4.69
Revenue Forecast (FY)$549.62M
Protagonist Therapeutics Business Overview & Revenue Model
Company Description
Protagonist Therapeutics, Inc. is a biopharmaceutical firm dedicated to discovering and advancing peptide-based therapies. Their research primarily focuses on treatments for hematological and blood conditions, as well as inflammatory and immune-me...
How the Company Makes Money
Protagonist Therapeutics primarily generates revenue through collaboration and licensing arrangements rather than product sales (its programs are largely in clinical development). Key revenue streams typically include: (1) upfront payments receive...
Protagonist Therapeutics Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
84
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 281.99M | 46.02M | 434.43M | 60.00M | 26.58M | 27.36M |
| Gross Profit | 281.58M | 44.79M | 434.43M | 60.00M | 26.58M | 27.36M |
| EBITDA | 85.88M | -128.03M | 282.37M | -75.64M | -124.02M | -122.78M |
| Net Income | 82.91M | -130.15M | 275.19M | -78.95M | -127.39M | -125.55M |
Balance Sheet | ||||||
| Total Assets | 885.54M | 669.89M | 744.73M | 357.95M | 247.93M | 347.69M |
| Cash, Cash Equivalents and Short-Term Investments | 782.58M | 567.36M | 418.91M | 341.62M | 237.35M | 326.90M |
| Total Debt | 9.22M | 10.32M | 10.87M | 1.14M | 3.66M | 5.86M |
| Total Liabilities | 44.00M | 55.19M | 69.43M | 21.27M | 32.32M | 47.67M |
| Stockholders Equity | 841.54M | 614.71M | 675.29M | 336.68M | 215.61M | 300.02M |
Cash Flow | ||||||
| Free Cash Flow | 132.17M | 56.08M | 182.80M | -70.84M | -108.93M | -108.97M |
| Operating Cash Flow | 131.20M | 57.67M | 184.15M | -70.24M | -108.14M | -107.86M |
| Investing Cash Flow | 78.72M | -49.33M | -299.48M | -39.26M | 91.47M | -15.86M |
| Financing Cash Flow | 41.61M | 22.86M | 25.85M | 170.48M | 18.84M | 129.92M |
Protagonist Therapeutics Technical Analysis
Positive
150.59
Price Trends
144.21
Negative
135.95
Positive
115.09
Positive
Market Momentum
-1.56
Negative
47.90
Neutral
52.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PTGX, the sentiment is Positive. The current price of 150.59 is above the 20-day moving average (MA) of 139.04, above the 50-day MA of 144.21, and above the 200-day MA of 115.09, indicating a neutral trend. The MACD of -1.56 indicates Negative momentum. The RSI at 47.90 is Neutral, neither overbought nor oversold. The STOCH value of 52.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PTGX.
Protagonist Therapeutics Risk Analysis
Protagonist Therapeutics disclosed 58 risk factors in its most recent earnings report. Protagonist Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Protagonist Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.24B | 7.14 | 59.00% | ― | 19.76% | 444.46% | |
70 Outperform | $8.96B | 113.64 | 12.03% | ― | 34.81% | 44.59% | |
55 Neutral | $5.87B | -10.07 | -69.59% | ― | ― | 1.28% | |
54 Neutral | $8.34B | -46.32 | -24.32% | ― | ― | 28.51% | |
53 Neutral | $2.02B | -4.78 | -84.13% | ― | ― | -63.94% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $7.72B | -16.71 | -85.88% | ― | ― | ― |
* Healthcare Sector Average
PTGX
Protagonist Therapeutics
138.43
63.18
83.96%
AUPH
Aurinia Pharmaceuticals
16.86
4.57
37.18%
SYRE
Spyre Therapeutics
90.33
65.76
267.64%
IMVT
Immunovant
28.41
6.98
32.57%
VERA
Vera Therapeutics
27.99
-2.42
-7.96%
ABVX
Abivax SA Sponsored ADR
88.01
-6.83
-7.20%
Protagonist Therapeutics Corporate Events
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Protagonist Therapeutics Highlights ICOTYDE Launch and Rusfertide Deal
Positive
Aug 5, 2026
On August 5, 2026, Protagonist reported second-quarter 2026 results that highlighted the first full quarter of commercial sales for ICOTYDE, which became the first FDA-approved targeted oral peptide for moderate-to-severe plaque psoriasis in March...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.