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Protagonist Therapeutics
(NASDAQ:PTGX)
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Rating:70Outperform
Price Target:
$151.00
▲(10.94% Upside)
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
Balance-sheet strength
A very low leverage profile and large equity base provide durable financial flexibility to fund R&D, support commercialization, and absorb clinical setbacks without urgent refinancing. This reduces bankruptcy and interest-rate risk and preserves strategic optionality over the next several quarters.
Negative Factors
Earnings and revenue volatility
Sharp swings from large prior losses to recent profit reflect lumpy revenue recognition and one-off items common in biotech. This episodic performance makes cash flow and earnings less predictable, complicates capital allocation, and increases execution risk if milestone-driven inflows do not recur.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
A very low leverage profile and large equity base provide durable financial flexibility to fund R&D, support commercialization, and absorb clinical setbacks without urgent refinancing. This reduces bankruptcy and interest-rate risk and preserves strategic optionality over the next several quarters.
Read all positive factors
Protagonist Therapeutics (PTGX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.79B
Dividend YieldN/A
Average Volume (3M)810.19K
Price to Earnings (P/E)―
Beta (1Y)0.03
Revenue Growth-64.36%
EPS Growth-302.09%
CountryUS
Employees132
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.22
Shares Outstanding64,311,370
10 Day Avg. Volume602,115
30 Day Avg. Volume810,190
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$148.00Price Target Upside8.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.23
Revenue Forecast (FY)$524.67M
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 does not sell approved commercial products and therefore primarily generates revenue from collaboration-related payments and other income tied to its partnering activities. Key revenue streams include: (1) upfront payments...
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 | 85.48M | -128.09M | 280.23M | -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 | 83.01M | 56.08M | 182.80M | -70.84M | -108.93M | -108.97M |
| Operating Cash Flow | 82.25M | 57.67M | 184.15M | -70.24M | -108.14M | -107.86M |
| Investing Cash Flow | 169.61M | -49.33M | -299.48M | -39.26M | 91.47M | -15.86M |
| Financing Cash Flow | 64.99M | 22.86M | 25.85M | 170.48M | 18.84M | 129.92M |
Protagonist Therapeutics Technical Analysis
Positive
136.11
Price Trends
121.62
Positive
111.43
Positive
98.18
Positive
Market Momentum
3.52
Positive
57.37
Neutral
48.51
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 136.11 is above the 20-day moving average (MA) of 135.21, above the 50-day MA of 121.62, and above the 200-day MA of 98.18, indicating a bullish trend. The MACD of 3.52 indicates Positive momentum. The RSI at 57.37 is Neutral, neither overbought nor oversold. The STOCH value of 48.51 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.96B | 12.26 | 39.59% | ― | 10.99% | -20.91% | |
70 Outperform | $8.79B | -75.83 | 12.03% | ― | -64.36% | -302.09% | |
52 Neutral | $2.07B | -11.10 | -24.29% | ― | 8.57% | 35.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $6.46B | -7.78 | -410.20% | ― | 50.19% | -742.29% | |
41 Neutral | $1.60B | -8.49 | -123.61% | ― | -41.19% | -159.09% |
* Healthcare Sector Average
PTGX
Protagonist Therapeutics
146.18
95.22
186.85%
ADMA
ADMA Biologics
10.06
-6.69
-39.94%
ZLAB
Zai Lab
20.88
-13.20
-38.73%
MIRM
Mirum Pharmaceuticals
94.12
34.29
57.33%
AAPG
Ascentage Pharma Group International Unsponsored ADR
17.09
-25.72
-60.08%
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...
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.