Protagonist Therapeutics (PTGX) AI Stock Analysis

• Market Cap: $6.29B
• Dividend Yield: N/A
• Average Volume (3M): 729.53K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.12
• Revenue Growth: -35.39%
• EPS Growth: -72.97%
• Country: US
• Employees: 124
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.69
• Shares Outstanding: 63,808,716
• 10 Day Avg. Volume: 1,144,105
• 30 Day Avg. Volume: 729,527
• PEG Ratio: 0.29
• Price to Book (P/B): 9.03
• Price to Sales (P/S): 120.66
• P/FCF Ratio: 99.01
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 136.64
• Enterprise Value/Gross Profit: 137.77
• Enterprise Value/Ebitda: -43.93
• 1Y Price Target: $110.80
• Price Target Upside: 10.37% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 3.24
• Revenue Forecast (FY): $441.90M

• Rating: 62 Neutral
• Price Target: $104.00 ▲(3.60% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is driven primarily by solid capitalization and low leverage despite volatile earnings and a 2025 return to losses with revenue at zero. Technicals are supportive with price above major moving averages and healthy momentum, while the very high P/E and lack of dividend weigh on valuation; the recent positive pipeline/partnership update modestly improves the outlook via regulatory and clinical catalysts.

Positive Factors

Balance sheet strength

A very low debt-to-equity ratio and substantial equity give Protagonist durable financial flexibility to fund clinical programs, withstand trial setbacks, and pursue partnerships without immediate dilutive financing. This conservative capital structure lowers insolvency risk and supports multi-year R&D investment plans.

Negative Factors

No recurring revenue; volatile results

The absence of product revenues and a swing to significant losses show the business remains dependent on intermittent milestone or partner payments rather than stable sales. This makes long-term cash flow projections highly uncertain and ties company value to successful regulatory and commercial execution.

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...

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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...

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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

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	46.02M	434.43M	60.00M	26.58M	27.36M
Gross Profit	44.79M	434.43M	60.00M	26.58M	27.36M
EBITDA	-128.09M	253.67M	-90.34M	-128.00M	-123.07M
Net Income	-130.15M	275.19M	-78.95M	-127.39M	-125.55M
Balance Sheet
Total Assets	669.89M	744.73M	357.95M	247.93M	347.69M
Cash, Cash Equivalents and Short-Term Investments	567.36M	418.91M	341.62M	237.35M	326.90M
Total Debt	10.32M	10.87M	1.14M	3.66M	5.86M
Total Liabilities	55.19M	69.43M	21.27M	32.32M	47.67M
Stockholders Equity	614.71M	675.29M	336.68M	215.61M	300.02M
Cash Flow
Free Cash Flow	56.08M	182.80M	-70.84M	-108.93M	-108.97M
Operating Cash Flow	57.67M	184.15M	-70.24M	-108.14M	-107.86M
Investing Cash Flow	-49.33M	-299.48M	-39.26M	91.47M	-15.86M
Financing Cash Flow	22.86M	25.85M	170.48M	18.84M	129.92M

Protagonist Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 100.39
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 100.39 is above the 20-day moving average (MA) of 95.00, above the 50-day MA of 87.88, and above the 200-day MA of 73.23, indicating a bullish trend. The MACD of 3.46 indicates Negative momentum. The RSI at 64.05 is Neutral, neither overbought nor oversold. The STOCH value of 57.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PTGX.

Protagonist Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADMA	66 Neutral	$3.24B	29.58	34.98%	―	27.62%	202.89%
MIRM	66 Neutral	$5.30B	―	-8.53%	―	53.66%	58.63%
PTGX	62 Neutral	$6.29B	-42.66	-19.89%	―	-35.39%	-72.97%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ZLAB	51 Neutral	$1.97B	-11.01	-22.81%	―	23.73%	30.16%
AAPG	42 Neutral	$1.99B	-10.19	-161.90%	―	-56.78%	-191.46%

Protagonist Therapeutics Corporate Events