(PTGX) Protagonist Therapeutics - Overview
Stock: Peptide, Hepcidin, Integrin, Interleukin, Obesity
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 47.7% |
| Relative Tail Risk | -10.2% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.47 |
| Alpha | 123.77 |
| Character TTM | |
|---|---|
| Beta | -0.122 |
| Beta Downside | -1.097 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.15% |
| CAGR/Max DD | 1.47 |
Description: PTGX Protagonist Therapeutics January 11, 2026
Protagonist Therapeutics (NASDAQ: PTGX) is a U.S. biotech focused on peptide-based drugs for hematologic, inflammatory, and immunomodulatory indications. Its lead assets include Rusfertide, a hepcidin-mimetic in Phase 3 for polycythemia vera; Icotrokinra, an oral small-molecule designed to block pathways currently targeted by injectable antibodies, also in Phase 3; and PN-943, an oral gut-restricted α4β7 integrin antagonist that completed a Phase 2 trial in moderate-to-severe ulcerative colitis. Early-stage programs comprise an oral IL-17 antagonist (PN-88), an oral metabolic/obesity peptide, and a pre-clinical oral hepcidin mimetic/ferroportin blocker.
As of the latest 10-Q (Q3 2024), PTGX reported a cash runway of roughly $150 million and a market capitalization near $1.2 billion, giving it roughly 12 months of liquidity at current burn rates. Rusfertide’s Phase 3 interim data showed >60% of patients achieving sustained hematocrit control without phlebotomy, a result that, if confirmed, could position the drug as a first-line oral alternative to current injectable therapies. The broader peptide therapeutics market is expanding at a CAGR of ~12% (2023-2028), driven by advances in oral delivery technology and a regulatory tilt favoring non-injectable chronic treatments-factors that underpin Protagonist’s strategic focus.
For a deeper, data-driven look at PTGX’s valuation metrics and scenario analysis, you might explore the analyst tools on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 45.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -28.88 > 1.0 |
| NWC/Revenue: 258.8% < 20% (prev 133.5%; Δ 125.3% < -1%) |
| CFO/TA 0.09 > 3% & CFO 65.5m > Net Income 45.9m |
| Net Debt (-103.0m) to EBITDA (27.5m): -3.74 < 3 |
| Current Ratio: 13.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (63.8m) vs 12m ago 3.25% < -2% |
| Gross Margin: 99.71% > 18% (prev 0.99%; Δ 9872 % > 0.5%) |
| Asset Turnover: 32.05% > 50% (prev 53.62%; Δ -21.57% > 0%) |
| Interest Coverage Ratio: -1.19 > 6 (EBITDA TTM 27.5m / Interest Expense TTM -22.0m) |
Altman Z'' -4.60
| A: 0.77 (Total Current Assets 586.4m - Total Current Liabilities 44.9m) / Total Assets 701.7m |
| B: -0.61 (Retained Earnings -426.3m / Total Assets 701.7m) |
| C: 0.04 (EBIT TTM 26.1m / Avg Total Assets 652.8m) |
| D: -7.57 (Book Value of Equity -425.8m / Total Liabilities 56.3m) |
| Altman-Z'' Score: -4.60 = D |
Beneish M -3.99
| DSRI: 0.34 (Receivables 583.0k/2.67m, Revenue 209.2m/323.8m) |
| GMI: 1.00 (GM 99.71% / 99.21%) |
| AQI: 0.77 (AQ_t 0.15 / AQ_t-1 0.19) |
| SGI: 0.65 (Revenue 209.2m / 323.8m) |
| TATA: -0.03 (NI 45.9m - CFO 65.5m) / TA 701.7m) |
| Beneish M-Score: -3.99 (Cap -4..+1) = AAA |
What is the price of PTGX shares?
Over the past week, the price has changed by +3.02%, over one month by +1.67%, over three months by +12.69% and over the past year by +130.08%.
Is PTGX a buy, sell or hold?
- StrongBuy: 5
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the PTGX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 99.4 | 16.2% |
| Analysts Target Price | 99.4 | 16.2% |
| ValueRay Target Price | 121.2 | 41.6% |
PTGX Fundamental Data Overview February 02, 2026
P/E Forward = 26.3852
P/S = 24.4425
P/B = 7.7225
Revenue TTM = 209.2m USD
EBIT TTM = 26.1m USD
EBITDA TTM = 27.5m USD
Long Term Debt = 10.7m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.23m USD (from shortTermDebt, last quarter)
Debt = 10.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -103.0m USD (from netDebt column, last quarter)
Enterprise Value = 4.55b USD (5.11b + Debt 10.7m - CCE 576.1m)
Interest Coverage Ratio = -1.19 (Ebit TTM 26.1m / Interest Expense TTM -22.0m)
EV/FCF = 71.39x (Enterprise Value 4.55b / FCF TTM 63.7m)
FCF Yield = 1.40% (FCF TTM 63.7m / Enterprise Value 4.55b)
FCF Margin = 30.45% (FCF TTM 63.7m / Revenue TTM 209.2m)
Net Margin = 21.94% (Net Income TTM 45.9m / Revenue TTM 209.2m)
Gross Margin = 99.71% ((Revenue TTM 209.2m - Cost of Revenue TTM 604.0k) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 6.48 (Enterprise Value 4.55b / Total Assets 701.7m)
Interest Expense / Debt = 21.36% (Interest Expense 2.30m / Debt 10.7m)
Taxrate = 1.51% (4.22m / 279.4m)
NOPAT = 25.7m (EBIT 26.1m * (1 - 1.51%))
Current Ratio = 13.05 (Total Current Assets 586.4m / Total Current Liabilities 44.9m)
Debt / Equity = 0.02 (Debt 10.7m / totalStockholderEquity, last quarter 645.4m)
Debt / EBITDA = -3.74 (Net Debt -103.0m / EBITDA 27.5m)
Debt / FCF = -1.62 (Net Debt -103.0m / FCF TTM 63.7m)
Total Stockholder Equity = 669.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.03% (Net Income 45.9m / Total Assets 701.7m)
RoE = 6.86% (Net Income TTM 45.9m / Total Stockholder Equity 669.5m)
RoCE = 3.84% (EBIT 26.1m / Capital Employed (Equity 669.5m + L.T.Debt 10.7m))
RoIC = 3.84% (NOPAT 25.7m / Invested Capital 669.5m)
WACC = 5.50% (E(5.11b)/V(5.12b) * Re(5.47%) + D(10.7m)/V(5.12b) * Rd(21.36%) * (1-Tc(0.02)))
Discount Rate = 5.47% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 1.59%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈129.9m ; Y1≈85.3m ; Y5≈38.9m
Fair Price DCF = 21.48 (EV 1.24b - Net Debt -103.0m = Equity 1.34b / Shares 62.5m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 27.11 | EPS CAGR: 18.92% | SUE: 0.39 | # QB: 0
Revenue Correlation: 35.74 | Revenue CAGR: -14.87% | SUE: 0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.54 | Chg30d=-0.110 | Revisions Net=+1 | Analysts=7
EPS next Year (2026-12-31): EPS=1.57 | Chg30d=+0.508 | Revisions Net=+1 | Growth EPS=+183.8% | Growth Revenue=+337.8%