PTGX Stock Analysis: Protagonist Therapeutics | NASDAQ

Biotechnology | NASDAQ, USA | Market Cap: 8.465m USD | 12M Return: 182.4% | Charts, Fundamentals & Technical Analysis

Psoriasis, Polycythemia Vera, Obesity, Atopic Dermatitis
Total Rating 41
Safety 57
Buy Signal 1.22
Biotechnology
Industry Rotation: +30.9
Market Cap: 8.46B
Avg Turnover: 89.5M
Risk 3d forecast
Volatility55.0%
VaR 5th Pctl8.84%
VaR vs Median-2.49%
Reward TTM
Sharpe Ratio2.20
Rel. Str. IBD96
Rel. Str. Peer Group74.3
Character TTM
Beta-0.496
Beta Downside-1.634
Hurst Exponent0.344
Drawdowns 3y
Max DD38.94%
CAGR/Max DD2.16
CAGR/Mean DD7.62
EPS (Earnings per Share) EPS (Earnings per Share) of PTGX over the last years for every Quarter: "2021-06": -0.69, "2021-09": -0.7, "2021-12": -0.77, "2022-03": -0.43, "2022-06": -0.84, "2022-09": -0.64, "2022-12": -0.69, "2023-03": -0.67, "2023-06": -0.68, "2023-09": -0.58, "2023-12": 0.44, "2024-03": 3.26, "2024-06": -0.5, "2024-09": -0.54, "2024-12": 1.98, "2025-03": -0.19, "2025-06": -0.55, "2025-09": -0.62, "2025-12": -0.69, "2026-03": 0.05,
Last SUE: 0.59
Qual. Beats: 0
Revenue Revenue of PTGX over the last years for every Quarter: 2021-06: 2.265, 2021-09: 10.286, 2021-12: 8.617, 2022-03: 25.722, 2022-06: 0.859, 2022-09: 0, 2022-12: 0, 2023-03: 0, 2023-06: 0, 2023-09: 0, 2023-12: 60, 2024-03: 254.953, 2024-06: 4.167, 2024-09: 4.675, 2024-12: 170.638, 2025-03: 28.321, 2025-06: 5.546, 2025-09: 4.712, 2025-12: 7.437, 2026-03: 56.368,
Rev. CAGR: -12.43%
Rev. Trend: -10.8%
Last SUE: 0.68
Qual. Beats: 0

Warnings

High Debt While Negative Cash Flow
Overextended 1w

Tailwinds

Supp Ema8
Rs Leader
Tailwind

Seasonality 9.9 years of data

Jan +2.5% 17
Feb +1.4% 8
Mar +3.1% 9
Apr -8.3% 37
May +0.8% 8
Jun +10.9% 27
Jul -2.0% 28
Aug +8.9% 18
Sep -5.1% 9
Oct -0.1% 8
Nov +1.5% 8
Dec -7.5% 10

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: PTGX Protagonist Therapeutics

Protagonist Therapeutics, Inc. is a US-based clinical-stage biopharmaceutical company focused on discovering and developing peptide-based therapeutics across multiple disease areas. Its pipeline includes Icotyde, an oral peptide for moderate-to-severe plaque psoriasis; Rusfertide, an injectable hepcidin mimetic in Phase 3 development for the rare blood disorder polycythemia vera; and earlier-stage candidates such as PN-881 (an oral IL-17 antagonist for immune-mediated skin diseases), as well as programs targeting obesity, atopic dermatitis, and asthma. The company was incorporated in 2006 and is headquartered in Newark, California.

The company operates within the biotechnology sub-industry of the healthcare sector, where peptide-based platforms represent a growing modality for addressing conditions traditionally served by biologics or small molecules. As a mid-cap US-listed entity trading on NASDAQ, PTGXs business model centers on advancing investigational candidates through clinical milestones, with future revenue typically dependent on successful development, regulatory approval, and commercialization-often through partnerships with larger pharmaceutical companies.

Headlines to Watch Out For
  • Rusfertide Phase 3 data readout in polycythemia vera
  • Icotyde oral psoriasis launch with Johnson & Johnson
  • Obesity pipeline advances with PN-477 and amylinR agonists
Piotroski VR-10 (Strict) 0.0
Net Income: -114.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.17 > 0.02 and ΔFCF/TA -61.85 > 1.0
NWC/Revenue: 781.6% < 20% (prev 274.7%; Δ 507.0% < -1%)
CFO/TA -0.17 > 3% & CFO -116.6m > Net Income -114.7m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 17.76 > 1.5 & < 3
Outstanding Shares: last quarter (70.5m) vs 12m ago 11.96% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 10.29% > 50% (prev 28.00%; Δ -17.71% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)
Altman Z'' 10.00
A: 0.83 (Total Current Assets 613.5m - Total Current Liabilities 34.5m) / Total Assets 697.5m
B: -0.67 (Retained Earnings -466.9m / Total Assets 697.5m)
C: -0.16 (EBIT TTM -115.4m / Avg Total Assets 719.8m)
D: 15.61 (Book Value of Equity 655.5m / Total Liabilities 42.0m)
Altman-Z'' = 18.58 = AAA
Beneish M -2.06
DSRI: 3.0 (Receivables 57.1m/27.1m, Revenue 74.1m/207.8m)
GMI: 1.00 (GM 98.57% / 98.35%)
AQI: 0.63 (AQ_t 0.10 / AQ_t-1 0.17)
SGI: 0.36 (Revenue 74.1m / 207.8m)
TATA: 0.00 (NI -114.7m - CFO -116.6m) / TA 697.5m)
Beneish M = -2.06 (Cap -4..+1) = BB
What is the price of PTGX shares?

As of July 08, 2026, the stock is trading at USD 140.85 with a total of 1,374,243 shares traded. Over the past week, the price has changed by +15.80%, over one month by +43.68%, over three months by +35.76% and over the past year by +182.43%.

Current recommended Stop Loss: 134.70 (which is 4.4% or 1.2 ATR below the current price).

Is PTGX a buy, sell or hold?

Protagonist Therapeutics has received a consensus analysts rating of 4.40. Therefore, it is recommended to buy PTGX.

  • StrongBuy: 5
  • Buy: 4
  • Hold: 1
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the PTGX price?
Analysts Target Price 118.7 -15.7%
Protagonist Therapeutics (PTGX) - Fundamental Data Overview as of 04 July 2026
Market Cap USD = 8.46b (8.46b USD * 1.0 USD.USD)
P/E Forward = 26.5252
P/S = 114.29
P/B = 12.281
Revenue TTM = 74.1m USD
EBIT TTM = -115.4m USD
EBITDA TTM = -113.9m USD
Long Term Debt = 7.44m USD (estimated: total debt 9.78m - short term 2.34m)
Short Term Debt = 2.34m USD (from shortTermDebt, last quarter)
Debt = 9.78m USD (from shortLongTermDebtTotal, last quarter) (leases 9.78m already included)
Net Debt = -538.0m USD (calculated: Debt 9.78m - CCE 547.8m)
Enterprise Value = 7.93b USD (8.46b + Debt 9.78m - CCE 547.8m)
 Interest Coverage Ratio = unknown (Ebit TTM -115.4m / Interest Expense TTM 0.0)
 EV/FCF = -68.15x (Enterprise Value 7.93b / FCF TTM -116.3m)
FCF Yield = -1.47% (FCF TTM -116.3m / Enterprise Value 7.93b)
 FCF Margin = -157.0% (FCF TTM -116.3m / Revenue TTM 74.1m)
 Net Margin = -154.9% (Net Income TTM -114.7m / Revenue TTM 74.1m)
 Gross Margin = unknown ((Revenue TTM 74.1m - Cost of Revenue TTM 1.23m) / Revenue TTM)
 Tobins Q-Ratio = 11.37 (Enterprise Value 7.93b / Total Assets 697.5m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 9.78m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -91.1m (EBIT -115.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 17.76 (Total Current Assets 613.5m / Total Current Liabilities 34.5m)
Debt / Equity = 0.01 (Debt 9.78m / totalStockholderEquity, last quarter 655.5m)
 Debt / EBITDA = 4.72 (negative EBITDA) (Net Debt -538.0m / EBITDA -113.9m)
 Debt / FCF = 4.63 (negative FCF - burning cash) (Net Debt -538.0m / FCF TTM -116.3m)
 Total Stockholder Equity = 645.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -15.94% (Net Income -114.7m / Total Assets 697.5m)
RoE = -17.76% (Net Income TTM -114.7m / Total Stockholder Equity 645.9m)
RoCE = -17.66% (EBIT -115.4m / Capital Employed (Equity 645.9m + L.T.Debt 7.44m))
 RoIC = -13.78% (negative operating profit) (NOPAT -91.1m / Invested Capital 661.5m)
 WACC = 4.24% (E(8.46b)/V(8.47b) * Re(4.24%) + D(9.78m)/V(8.47b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 4.24% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 46.67 | Cagr: 6.03%
 [DCF] Fair Price = unknown (Cash Flow -116.3m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.59 | # QB: 0
Revenue Correlation: -10.82 | Revenue CAGR: -12.43% | SUE: 0.68 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.77 | Chg30d=+25.27% | Revisions=+22% | Analysts=10
EPS next Quarter (2026-09-30): EPS=2.24 | Chg30d=+113.57% | Revisions=+0% | Analysts=9
EPS current Year (2026-12-31): EPS=4.17 | Chg30d=+50.45% | Revisions=+36% | GrowthEPS=+303.6% | GrowthRev=+1006.6%
EPS next Year (2027-12-31): EPS=-0.68 | Chg30d=-57.69% | Revisions=+12% | GrowthEPS=-116.4% | GrowthRev=-68.6%
[Analyst] Revisions Ratio: +25% (up=16, down=9)