Protagonist Therapeutics (PTGX)
NASDAQ:PTGX
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Protagonist Therapeutics
(NASDAQ:PTGX)
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Rating:49Neutral
Price Target:
$99.00
▼(-6.59% Downside)
Action:ReiteratedDate:05/09/26
The score is primarily held back by weak recent fundamentals (deep TTM losses and negative free cash flow) and expensive valuation (very high P/E). Offsetting these risks are a strong, low-leverage balance sheet that provides funding flexibility and a largely neutral technical picture with longer-term trend support.
Positive Factors
Conservative Balance Sheet
Exceptionally low leverage and substantial equity provide durable financial flexibility. This capital structure reduces refinancing and solvency risk, lets management fund trials or opportunistic partnerships without urgent dilution, and preserves optionality during biotech development cycles.
Negative Factors
Zero Reported Revenue
Reporting zero revenue in the latest year highlights lack of recurring product sales and reliance on episodic payments. Without marketed products, revenue timing is highly uncertain and the business remains exposed to trial outcomes and external partner decisions that can materially change fiscal results.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Exceptionally low leverage and substantial equity provide durable financial flexibility. This capital structure reduces refinancing and solvency risk, lets management fund trials or opportunistic partnerships without urgent dilution, and preserves optionality during biotech development cycles.
Read all positive factors
Protagonist Therapeutics (PTGX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.39B
Dividend YieldN/A
Average Volume (3M)869.10K
Price to Earnings (P/E)453.4
Beta (1Y)0.10
Revenue Growth-64.36%
EPS Growth-302.09%
CountryUS
Employees124
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.80
Shares Outstanding64,311,370
10 Day Avg. Volume653,616
30 Day Avg. Volume869,095
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 Cap0.97
Enterprise Value/Revenue83.79
Enterprise Value/Gross Profit84.26
Enterprise Value/Ebitda-46.20
Forecast
1Y Price Target
$115.80Price Target Upside9.27% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)3.32
Revenue Forecast (FY)$441.55M
Protagonist Therapeutics Business Overview & Revenue Model
Company Description
Protagonist Therapeutics, Inc., a biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing rusfertide (PTG-300), a...
How the Company Makes Money
Protagonist Therapeutics primarily generates revenue through collaboration and licensing arrangements with larger pharmaceutical partners. Under these agreements, the company may receive upfront payments, research and development funding or cost r...
Protagonist Therapeutics Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 74.06M | 46.02M | 434.43M | 60.00M | 26.58M | 27.36M |
| Gross Profit | 73.66M | 44.79M | 434.43M | 60.00M | 26.58M | 27.36M |
| EBITDA | -134.34M | -128.09M | 253.67M | -90.34M | -128.00M | -123.07M |
| Net Income | -114.71M | -130.15M | 275.19M | -78.95M | -127.39M | -125.55M |
Balance Sheet | ||||||
| Total Assets | 697.46M | 669.89M | 744.73M | 357.95M | 247.93M | 347.69M |
| Cash, Cash Equivalents and Short-Term Investments | 547.79M | 567.36M | 418.91M | 341.62M | 237.35M | 326.90M |
| Total Debt | 9.78M | 10.32M | 10.87M | 1.14M | 3.66M | 5.86M |
| Total Liabilities | 41.99M | 55.19M | 69.43M | 21.27M | 32.32M | 47.67M |
| Stockholders Equity | 655.47M | 614.71M | 675.29M | 336.68M | 215.61M | 300.02M |
Cash Flow | ||||||
| Free Cash Flow | -116.31M | 56.08M | 182.80M | -70.84M | -108.93M | -108.97M |
| Operating Cash Flow | -116.64M | 57.67M | 184.15M | -70.24M | -108.14M | -107.86M |
| Investing Cash Flow | 135.96M | -49.33M | -299.48M | -39.26M | 91.47M | -15.86M |
| Financing Cash Flow | 34.80M | 22.86M | 25.85M | 170.48M | 18.84M | 129.92M |
Protagonist Therapeutics Technical Analysis
Positive
105.98
Price Trends
94.64
Positive
90.35
Positive
77.32
Positive
Market Momentum
2.48
Positive
59.60
Neutral
85.05
Negative
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 105.98 is above the 20-day moving average (MA) of 102.25, above the 50-day MA of 94.64, and above the 200-day MA of 77.32, indicating a bullish trend. The MACD of 2.48 indicates Positive momentum. The RSI at 59.60 is Neutral, neither overbought nor oversold. The STOCH value of 85.05 is Negative, 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.89B | 11.73 | 38.97% | ― | 10.99% | -20.91% | |
55 Neutral | $6.53B | -1.72 | -8.53% | ― | 50.19% | -742.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $6.39B | 453.36 | -17.76% | ― | -64.36% | -302.09% | |
47 Neutral | $2.18B | -10.21 | -22.81% | ― | 15.59% | 38.12% | |
40 Underperform | $2.02B | -6.64 | -123.61% | ― | -41.19% | -159.09% |
* Healthcare Sector Average
PTGX
Protagonist Therapeutics
99.36
56.39
131.23%
ADMA
ADMA Biologics
8.17
-11.81
-59.11%
ZLAB
Zai Lab
18.60
-10.64
-36.39%
MIRM
Mirum Pharmaceuticals
107.16
62.89
142.06%
AAPG
Ascentage Pharma Group International Unsponsored ADR
21.50
-2.81
-11.56%
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.