Protagonist Therapeutics, Inc.

NasdaqGM:PTGX Stock Report

Market Cap: US$6.6b

Protagonist Therapeutics Future Growth

Future criteria checks 5/6

Protagonist Therapeutics is forecast to grow earnings and revenue by 34.6% and 21.1% per annum respectively. EPS is expected to grow by 35% per annum. Return on equity is forecast to be -5.7% in 3 years.

Key information

34.6%

Earnings growth rate

35.04%

EPS growth rate

Biotechs earnings growth25.2%
Revenue growth rate21.1%
Future return on equity-5.71%
Analyst coverage

Good

Last updated13 May 2026

Recent future growth updates

Analysis Article • May 08

Protagonist Therapeutics, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Protagonist Therapeutics, Inc. ( NASDAQ:PTGX ) last week reported its latest first-quarter results, which makes it a...

Recent updates

Analysis Article • May 15

This Just In: Analysts Are Boosting Their Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Outlook for This Year

Protagonist Therapeutics, Inc. ( NASDAQ:PTGX ) shareholders will have a reason to smile today, with the analysts making...
Analysis Article • May 08

Protagonist Therapeutics, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Protagonist Therapeutics, Inc. ( NASDAQ:PTGX ) last week reported its latest first-quarter results, which makes it a...
Seeking Alpha • Jan 30

Protagonist Therapeutics: Assessing The 2026 Upside For Icotrokinra And Rusfertide

Summary Protagonist Therapeutics remains a high-conviction buy, driven by late-stage assets icotrokinra and rusfertide approaching regulatory milestones in 2026. PTGX’s robust cash position of $678.8 million provides a runway through 2028, supporting aggressive R&D and upcoming commercialization efforts. Both icotrokinra and rusfertide have demonstrated strong efficacy and safety in pivotal trials, with regulatory submissions underway and significant market opportunities ahead. Valuation is premium at 21x EV/sales, reflecting high investor expectations for late-stage pipeline success; downside risk remains if approvals falter. Read the full article on Seeking Alpha
Analysis Article • Oct 11

Protagonist Therapeutics, Inc.'s (NASDAQ:PTGX) 51% Price Boost Is Out Of Tune With Revenues

Despite an already strong run, Protagonist Therapeutics, Inc. ( NASDAQ:PTGX ) shares have been powering on, with a gain...
Analysis Article • Jun 13

Subdued Growth No Barrier To Protagonist Therapeutics, Inc. (NASDAQ:PTGX) With Shares Advancing 27%

Protagonist Therapeutics, Inc. ( NASDAQ:PTGX ) shareholders would be excited to see that the share price has had a...
Seeking Alpha • Mar 11

Protagonist Therapeutics: Much More Than Rusfertide In Place To Carry It

Summary Protagonist Therapeutics, Inc. achieved primary endpoint in a phase 3 VERIFY study using rusfertide in polycythemia vera and the phase 2b ANTHEM-UC study using icotrokinra in ulcerative colitis. Icotrokinra, a first-in-class IL-23 receptor agonist, shows promise in treating ulcerative colitis and plaque psoriasis, potentially shifting treatment paradigms in both of these indications. Financially stable with $559.2 million in cash and recent milestone payments, Protagonist can fund operations through 2028, reducing financial risk. Future PTGX prospects include expanding icotrokinra's use to Crohn's Disease and initiating phase 1 study for PN-881, targeting immune-mediated disorders like hidradenitis suppurativa. Read the full article on Seeking Alpha
Seeking Alpha • Jan 13

Protagonist: Rusfertide PV Data Q1 2025 Isn't The Only 2025 Catalyst On Deck

Summary Positive results achieved from both ICONIC studies using JNJ-2113 for the treatment of patients with moderate-to-severe plaque psoriasis; Superiority study is data expected in Q2 of 2025. Topline results from the phase 3 VERIFY study, using rusfertide for the treatment of patients with polycythemia vera, expected in Q1 of 2025. The global Polycythemia vera market size is expected to grow to $2.03 billion by 2032. The company had $583.3 million in cash as of September 30th of 2024; Enough cash to fund its operations until the end of 2027. Read the full article on Seeking Alpha
Seeking Alpha • Oct 16

The Prognosis For Protagonist Therapeutics: Solid Prospects, But Stock Is Pricey

Summary Today, we circle back to the clinical stage of biopharma Protagonist Therapeutics, Inc., whose stock has tripled over the past year. The company has two late-stage drug candidates that are partnered with Takeda and Johnson & Johnson, respectively. If pivotal trials turn out to be successful, both drugs could be approved in 2026. Still more upside in this rally? An updated analysis of Protagonist Therapeutics follows in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Feb 25

Protagonist Therapeutics: Why I Remain On Sidelines Despite Obvious Promise

Summary Protagonist Therapeutics' stock has experienced significant volatility over the past three years, with multiple setbacks and recoveries. The company's lead drug candidate, Rusfertide, indicated for polycythemia vera, faced a clinical hold from the FDA but had the hold removed in October 2021 and now looks approvable. Protagonist's joint plaque psoriasis candidate, JNJ-2113, showed positive results in a Phase 2 study, leading to a stock price increase. Both of Protagonist's lead candidates make a case for a commercial approval - although not for 2 more years at least, and there are risks, and hurdles still to be overcome. 2 Phase 3 studies must still be completed. The recently signed deal with Takeda to co-commercialise Rusfertide is a significant boost for Protagonist and has driven its market cap valuation to $1.64bn - I think that is an accurate reflection for its value for now, but may look to buy on any dips. Read the full article on Seeking Alpha
Seeking Alpha • Jun 08

Protagonist: Too Many Red Flags

Protagonist has recently faced a number of mishaps. These make the stock risky. They have a good deal of cash for now.
Seeking Alpha • Feb 01

Protagonist Is Still Being Undervalued Like There's Real Risk

Protagonist Therapeutics is currently working to tackle some serious issues with an underserved form of blood cancer. A recent cancer scare sent shockwaves through the company's valuation, and it has been almost entirely resolved. The current valuation is still a deep discount from the highs prior to the dip.

Earnings and Revenue Growth Forecasts

NasdaqGM:PTGX - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028281372232388
12/31/2027142-9327-3611
12/31/202649826531129611
3/31/202674-115-118-117N/A
12/31/202546-1305658N/A
9/30/2025209466465N/A
6/30/2025209523740N/A
3/31/202520856335337N/A
12/31/2024434275183184N/A
9/30/2024324171229230N/A
6/30/2024319170231232N/A
3/31/2024315162-64-63N/A
12/31/202360-79-71-70N/A
9/30/2023N/A-140-119-119N/A
6/30/2023N/A-138-118-117N/A
3/31/20231-140-105-105N/A
12/31/202227-127-109-108N/A
9/30/202235-130-104-103N/A
6/30/202245-133-108-107N/A
3/31/202247-122-118-117N/A
12/31/202127-126-109-108N/A
9/30/202124-108-101-100N/A
6/30/202127-81-88-88N/A
3/31/202131-70-86-85N/A
12/31/202029-66-73-72N/A
9/30/202026-65-68-68N/A
6/30/202017-73-66-66N/A
3/31/20202-83-42-41N/A
12/31/20190-77N/A-42N/A
9/30/20190-74N/A-37N/A
6/30/20192-66N/A-32N/A
3/31/201922-45N/A-51N/A
12/31/201831-39N/A-50N/A
9/30/201840-28N/A-54N/A
6/30/201843-24N/A-4N/A
3/31/201831-31N/A-1N/A
12/31/201720-37N/A4N/A
9/30/20179-45N/A8N/A
6/30/2017N/A-48N/A-39N/A
3/31/2017N/A-40N/A-35N/A
12/31/2016N/A-38N/A-30N/A
9/30/2016N/A-32N/A-25N/A
6/30/2016N/A-28N/A-22N/A
3/31/2016N/A-24N/A-17N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PTGX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.5%).

Earnings vs Market: PTGX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: PTGX is expected to become profitable in the next 3 years.

Revenue vs Market: PTGX's revenue (21.1% per year) is forecast to grow faster than the US market (11.7% per year).

High Growth Revenue: PTGX's revenue (21.1% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PTGX is forecast to be unprofitable in 3 years.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/18 10:02
End of Day Share Price 2026/05/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Protagonist Therapeutics, Inc. is covered by 18 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Etzer DaroutBarclays
Evan SeigermanBMO Capital Markets Equity Research
Timothy ChiangCapital One Securities, Inc.