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PTGX

NEUTRAL
$105.98 Live
Protagonist Therapeutics, Inc. · NASDAQ
Target $113.33 (+6.9%)
$41.28 52W Range $107.84

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Apr 18, 2026
Market cap
$6.76B
P/E
N/A
ROE
-20.2%
Profit margin
-282.8%
Debt/Equity
0.02
Dividend yield
N/A

AI Analysis

AI-powered fundamental assessment

Confidence
80%
PTGX exhibits a strong deterministic health profile with a Piotroski F-Score of 7/9 and a fortress-like balance sheet (Current Ratio 12.71, Debt/Equity 0.02). However, the company is in a speculative pre-commercial phase, evidenced by a staggering Price/Sales ratio of 146.96 and negative profit margins. While analysts maintain a 'strong_buy' based on the late-stage pipeline (Icotyde and Rusfertide), significant insider selling by the CEO and CFO creates a divergence between institutional optimism and internal sentiment.

Key Strengths

Strong Piotroski F-Score (7/9) indicating improving financial health
Exceptional liquidity with a Current Ratio of 12.71
Negligible debt levels (Debt/Equity 0.02)
High-tier strategic partnerships with Janssen (J&J) and Takeda
Advanced pipeline with NDA submissions for lead candidates

Key Risks

Binary regulatory risk associated with FDA/EMA approval of Icotyde and Rusfertide
Extreme valuation premiums (P/S 146.96, P/B 10.79)
Severe revenue volatility (-95.6% YoY) typical of milestone-based biotech
Heavy operational losses with a profit margin of -282.83%
Bearish insider activity with $25.17M in recent sales
AI Fair Value Estimate
Based on comprehensive analysis
$113.33
+6.9% above current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
52
Moderate
Value
15
Future
85
Past
70
Health
90
Dividend
0
AI Verdict
Speculative Growth
Key drivers: Pipeline regulatory milestones, Balance sheet strength, Insider divergence
Confidence
85%
Value
15/100

P/S 146.96; Graham Number N/A due to lack of earnings

Positives
No standout positives identified.
Watchpoints
  • P/S ratio is unsustainable by traditional standards
  • P/B ratio is highly inflated
Future
85/100

Growth is binary, tied to FDA approval rather than current revenue

Positives
  • Icotyde projected 2026 launch
  • Rusfertide Breakthrough Therapy designation
Watchpoints
  • Dependence on third-party partners for commercialization
Past
70/100

Historical price action reflects successful clinical progression

Positives
  • Strong 1Y (+129%) and 5Y (+306%) price appreciation
Watchpoints
  • Inconsistent earnings surprise track record
Health
90/100

Strong balance sheet provides a significant runway for R&D

Positives
  • Piotroski F-Score 7/9
  • Very low leverage
  • High cash-to-debt ratio
Watchpoints
No urgent risks highlighted.
Dividend
0/100

Standard for clinical-stage biotechnology

Positives
No standout positives identified.
Watchpoints
  • No dividend policy

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$105.98
Analyst Target
$113.33
Upside/Downside
+6.9%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for PTGX and closest competitors.

Updated 2026-04-17
PTG
Protagonist Therapeutics, Inc.
Primary
5Y
+306.1%
3Y
+356.6%
1Y
+129.0%
6M
+36.8%
1M
+9.2%
1W
+7.2%
GRF
Grifols, S.A.
Peer
5Y
-51.1%
3Y
+11.6%
1Y
+28.0%
6M
-11.9%
1M
+2.2%
1W
-0.4%
ACL
Arcellx, Inc.
Peer
5Y
+580.9%
3Y
+279.9%
1Y
+59.8%
6M
+50.1%
1M
+63.7%
1W
+0.1%
HQY
HealthEquity, Inc.
Peer
5Y
+11.9%
3Y
+34.2%
1Y
-2.5%
6M
-13.9%
1M
-0.8%
1W
-7.9%
RGE
Repligen Corporation
Peer
5Y
-39.7%
3Y
-30.0%
1Y
-7.4%
6M
-11.9%
1M
-5.7%
1W
+1.3%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
N/A
Forward P/E
-244.06
PEG Ratio
N/A
P/B Ratio
10.79
P/S Ratio
146.96
EV/Revenue
134.85
EV/EBITDA
-39.56
Market Cap
$6.76B

Profitability

Profit margins and return metrics

Profit Margin -282.83%
Operating Margin -677.09%
Gross Margin 100.0%
ROE -20.18%
ROA -13.99%

Growth

Revenue and earnings growth rates

Revenue Growth -95.6%
Earnings Growth N/A
Q/Q Revenue Growth -95.64%
Q/Q Earnings Growth N/A

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
0.02
Low debt
Current Ratio
12.71
Strong
Quick Ratio
12.59
Excellent
Cash/Share
$8.89

Financial Statement Flow

Interactive flow visualization showing how money moves through the company Q4 2025

Revenue
$0.0B
Op. Margin
-677.1%
Net Margin
-596.8%
Total Assets
$0.7B
Liabilities
$0.1B
Equity
$0.6B
Debt/Equity
0.09x
Operating CF
$-0.0B
CapEx
$-0.0B
Free Cash Flow
$-0.0B
FCF Yield
100%

Quarterly Earnings History

EPS performance vs analyst estimates

2026-05-06
$N/A
2026-02-25
$-0.69
-27.4% surprise
2025-11-06
$-0.62
+2.8% surprise
2025-08-06
$-0.55
-4.8% surprise

Healthcare Sector Comparison

Comparing PTGX against 421 companies in the Healthcare sector (25 bullish, 134 neutral, 262 bearish)
Return on Equity (ROE)
-20.18%
This Stock
vs
-100.15%
Sector Avg
-79.9% (Below Avg)
Profit Margin
-282.83%
This Stock
vs
-13.63%
Sector Avg
+1975.3% (Superior)
Debt to Equity
0.02
This Stock
vs
3.22
Sector Avg
-99.5% (Less Debt)
Revenue Growth
-95.6%
This Stock
vs
121.05%
Sector Avg
-179.0% (Slower)
Current Ratio
12.71
This Stock
vs
4.55
Sector Avg
+179.4% (Stronger)

Similar Companies

Peer comparison within the same industry

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

ALI ASIF
Chief Financial Officer
Sell
2026-03-26
24,765 shares · $2,581,504
ALI ASIF
Chief Financial Officer
Option Exercise
2026-03-26
24,765 shares · $438,280
SELICK HAROLD E
Director
Sell
2026-03-26
24,000 shares · $2,520,000
SELICK HAROLD E
Director
Option Exercise
2026-03-26
24,000 shares · $309,120
MOLINA ARTURO MD
Officer
Sell
2026-03-26
15,000 shares · $1,571,850
MOLINA ARTURO MD
Officer
Option Exercise
2026-03-26
15,000 shares · $120,600
PATEL DINESH V
Chief Executive Officer
Sell
2026-03-25
54,700 shares · $5,524,700
PATEL DINESH V
Chief Executive Officer
Option Exercise
2026-03-25
54,700 shares · $469,326
PATEL DINESH V
Chief Executive Officer
Gift
2026-03-23
50,000 shares
WILLIAMS LEWIS T
Director
Sell
2026-02-17
18,000 shares · $1,483,560
WILLIAMS LEWIS T
Director
Option Exercise
2026-02-17
18,000 shares · $195,120
WADDILL WILLIAM D
Director
Sell
2026-02-06
20,000 shares · $1,673,600
WADDILL WILLIAM D
Director
Option Exercise
2026-02-06
20,000 shares · $166,200
ALI ASIF
Chief Financial Officer
Sell
2026-01-27
46,203 shares · $3,841,037
ALI ASIF
Chief Financial Officer
Option Exercise
2026-01-27
28,000 shares · $453,080
Insider transactions can signal confidence or concerns about company prospects

SEC Filings

Recent regulatory filings from the SEC EDGAR database

8-K
FORM 8-K
2026-02-25

Protagonist Therapeutics (PTGX) likely reported its fourth-quarter and full-year financial results on February 25, 2026.

10-K
10-K
2026-02-25

Protagonist Therapeutics is advancing a pipeline in inflammation, hematology, and metabolic diseases, highlighted by Rusfertide in Phase 3 and Icotyde, which is pending FDA/EMA approval for a projected 2026 US launch through partner Janssen. The company's financial prospects are heavily dependent on the successful regulatory approval and commercialization of these lead candidates. Consequently, the investment remains speculative due to significant risks associated with clinical development and regulatory outcomes.

8-K
FORM 8-K
2026-01-12
10-Q
10-Q
2025-11-06

Protagonist Therapeutics (PTGX) filed its 10-Q on November 6, 2025. The filing includes a dedicated section on risk factors under Item 1A, although specific financial highlights were not provided in the available excerpt.

8-K
FORM 8-K
2025-11-06
10-Q
10-Q
2025-08-06

Protagonist Therapeutics (PTGX) filed its 10-Q on August 6, 2025. The filing includes a section on risk factors under Item 1A, although specific financial highlights and risk details were not provided in the available excerpt.

8-K
FORM 8-K
2025-08-06
8-K
FORM 8-K
2025-06-26
10-Q
10-Q
2025-05-06

Protagonist Therapeutics (PTGX) filed its quarterly 10-Q report on May 6, 2025. The filing includes a section on risk factors under Item 1A, although specific financial highlights and detailed risk descriptions were not provided in the available excerpt.

8-K
FORM 8-K
2025-05-06

Protagonist Therapeutics filed an 8-K on May 6, 2025, likely to announce its first-quarter 2025 financial results.

DEF 14A
DEF 14A
2025-04-29
8-K
FORM 8-K
2025-03-20
8-K/A
FORM 8-K/A
2025-03-11
8-K
FORM 8-K
2025-03-10
8-K
FORM 8-K
2025-03-03
Data sourced from SEC EDGAR. AI summaries generated automatically.

Wall Street Analysts

Professional analyst ratings and price targets

Consensus
STRONG_BUY
12 analysts
Truist Securities
2026-04-15
Maintains
Buy Buy
Clear Street
2026-04-07
Maintains
Buy Buy
Leerink Partners
2026-03-19
Maintains
Outperform Outperform
JP Morgan
2026-03-19
Maintains
Overweight Overweight
Citigroup
2026-03-19
Maintains
Buy Buy
Barclays
2026-03-19
Maintains
Overweight Overweight
Goldman Sachs
2026-03-03
Maintains
Neutral Neutral
TD Cowen
2026-02-26
Maintains
Buy Buy
Barclays
2026-02-26
Maintains
Overweight Overweight
Citizens
2026-02-26
Maintains
Market Outperform Market Outperform

Past News Coverage

Recent headlines mentioning PTGX from our newsroom.

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