Protagonist Therapeutics Inc (PTGX)
NASDAQ:PTGX
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Protagonist Therapeutics
(NASDAQ:PTGX)
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Rating:59Neutral
Price Target:
$116.00
▲(9.45% Upside)
Action:Reiterated
Date:06/19/26
The score is primarily held back by weak TTM profitability and significant cash burn despite a strong, low-leverage balance sheet. Technicals are supportive with strong trend/momentum, while valuation remains pressured due to negative earnings and no dividend support. Corporate events are a small positive for governance continuity.
Positive Factors
Strong balance sheet
A very low debt-to-equity ratio and large equity base provide durable financial flexibility to fund R&D and absorb operating volatility. This conservative capital structure reduces near-term refinancing risk and supports multi-quarter development programs and partnering negotiations.
Negative Factors
Material negative cash flow
Large, persistent negative operating and free cash flow increases dependence on the balance sheet or new financings. If cash burn persists over multiple quarters it can force dilutive capital raises or tighter R&D prioritization, constraining long-term program execution and optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
A very low debt-to-equity ratio and large equity base provide durable financial flexibility to fund R&D and absorb operating volatility. This conservative capital structure reduces near-term refinancing risk and supports multi-quarter development programs and partnering negotiations.
Read all positive factors
Protagonist Therapeutics (PTGX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.26B
Dividend YieldN/A
Average Volume (3M)586.06K
Price to Earnings (P/E)―
Beta (1Y)0.03
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. Volume638,847
30 Day Avg. Volume586,064
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 Cap0.96
Enterprise Value/Revenue94.28
Enterprise Value/Gross Profit94.80
Enterprise Value/Ebitda-61.29
Forecast
1Y Price Target
$117.78Price Target Upside11.13% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.03
Revenue Forecast (FY)$503.79M
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 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 | -113.93M | -128.09M | 280.23M | -75.64M | -124.02M | -122.78M |
| 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
102.30
Positive
97.05
Positive
87.50
Positive
Market Momentum
3.05
Negative
63.63
Neutral
86.93
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 103.19, above the 50-day MA of 102.30, and above the 200-day MA of 87.50, indicating a bullish trend. The MACD of 3.05 indicates Negative momentum. The RSI at 63.63 is Neutral, neither overbought nor oversold. The STOCH value of 86.93 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.93B | 11.86 | 38.97% | ― | 10.99% | -20.91% | |
59 Neutral | $7.26B | -64.04 | -17.76% | ― | -64.36% | -302.09% | |
56 Neutral | $6.53B | -7.89 | -289.33% | ― | 50.19% | -742.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $2.07B | -11.41 | -24.29% | ― | 8.57% | 35.12% | |
40 Underperform | $1.55B | -8.72 | -123.61% | ― | -41.19% | -159.09% |
* Healthcare Sector Average
PTGX
Protagonist Therapeutics
112.86
59.52
111.59%
ADMA
ADMA Biologics
8.31
-9.43
-53.16%
ZLAB
Zai Lab
18.18
-16.37
-47.38%
MIRM
Mirum Pharmaceuticals
107.13
56.79
112.81%
AAPG
Ascentage Pharma Group International Unsponsored ADR
17.12
-20.26
-54.20%
Protagonist Therapeutics Corporate Events
Executive/Board ChangesShareholder Meetings
Protagonist Therapeutics Stockholders Approve Directors and Incentive Plan
Positive
Jun 18, 2026
At its recent Annual Meeting, Protagonist Therapeutics’ stockholders elected two Class I directors, Dinesh V. Patel and Lewis T. “Rusty” Williams, to serve until the 2029 Annual Meeting of Stockholders and until their successors ...
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.