Market Reactions To Protagonist Therapeutics, Inc. (PTGX) Earnings Update

52 days have passed by since the last earnings report for Protagonist Therapeutics, Inc. (NASDAQ:PTGX) and the new quarterly results look set to arrive in 44 days. The shares of PTGX at the moment are trading at a volume of 0.24 million, which compares with its normal daily standard volume of 248.11 million shares. This has led to the shares of the company declining by -8.17%, currently exchanging hands at $13.15 a share. PTGX stock has been up by $3.52 (-21.12%) ever since it reached its 52-week high of $16.67 back in September 10, 2019. It has progressed above its 50-day moving average of $13.06 and is down -4.78% over the past week. The stock has added 60.6% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the PTGX share price due for a correction?

Protagonist Therapeutics, Inc. (PTGX) Forecasts And Latest Quarter Earnings

Ahead of their fiscal third-quarter to be released on Monday, Nov 11, 2019, 5 analysts who are covering the company are estimating that it will record a profit of -$0.71 per share, with analysts having different outlooks from -$0.84 to -$0.51. The current agreed outlook, when compared to the profit recorded last year, is at -$0.38 a share, thus an increase of 86.84% is expected. The profit view for a complete financial year for Protagonist Therapeutics, Inc. is expected to be around -$3.15 in current year, a decline of nearly 81.03% from last year which was -$1.74.

Let’s now look at their sales section, PTGX’s revenue is estimated to be $6.12M, a figure which is less than the $6.12M recorded for Q3 last year. Their sequential sales though are expected to move versus Q2’s $-8.19B. Their full-year outlook is pegged at $6.58M, implying that there would be a drop of -78.73% over the $30.93M they recorded last year in revenue. Protagonist Therapeutics, Inc. is projected to get sales lifted by 246.2% in the next quarter, with a revenue target of $22.78M.

Analyzing The Earnings History Of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

In the past few years, the PTGX stock has been known to miss the Wall Street’s earnings projection. The company missed 58.% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 5 times. Looking at the past trend, the price of Protagonist Therapeutics, Inc. shares had risen following the release of their earnings in 6 of the last 12 quarters.

Looking back, here is how Protagonist Therapeutics, Inc. (PTGX) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Protagonist Therapeutics, Inc. recorded 2.17%, 6.24%, -1.46% and 4.14%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 0.1%, 19.15%, 36.26% and -4.03%. Their post-earnings price movements have resulted in an average increase of 2.77% and an average increase of 12.87% in Protagonist Therapeutics, Inc. on next day and 7th day, sequentially. PTGX’s one month stock performance led to its shares rising by 3.62% with a return of 48.09% witnessed over the last 52 weeks.

The higher number of analysts has assigned a buy or better ratings (6) on the Protagonist Therapeutics, Inc. stock, while 0 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $20.17. This price target implies potential upside of 53.38 percent over the next 12 months based on the current share price.

Protagonist Therapeutics, Inc. (PTGX) Post Earnings Announcement Drift (PEAD)

Back on August 07, 2019, Protagonist Therapeutics, Inc. (NASDAQ:PTGX) released its Q2 results, in which it recorded a loss of -$1.18 that fell short of consensus estimates of -$0.28. After the earnings were reported, the price of PTGX stock kicked off the session at $9 and remained in a range of $9 to $10.34 on the first day. The shares were priced at $9.9 at the close with a total volume of shares being 217362.

On May 08, 2019, the Q1 earnings report was disclosed with loss per share of -$5.80. This was above the estimation of -$0.59 per share. The stock price range of PTGX was between $10.01 and $10.81 on the first-day post announcement, after opening the day at $9.44. The session came to close at $9.54 and there was a total volume of 541284 shares.

March 12, 2019 was the day when its Q4 results were unveiled. The loss came in at -$0.57, missing the projected -$0.47 per share. The very next day, PTGX stock opened at $8.97 while staying in a range of $9.1 to $9.55. At the end, it moved to $9.43 a total volume of shares been 243006.

In the year-ago Q3 earnings on November 06, 2018, the company saw a loss per share of -$0.38. That was worse than the -$0.37 analysts had expected. Protagonist Therapeutics, Inc. share price started at $8.15 on the first full trading day post-earning and then exchanged hands between $8.53 and $9.13 throughout the session. The closing price of $9.05 came on the back of 148959 shares in volume.