Protagonist Therapeutics, Inc.

NasdaqGM:PTGX Stock Report

Market Cap: US$10.0b

Protagonist Therapeutics Past Earnings Performance

Past criteria checks 4/6

Protagonist Therapeutics has been growing earnings at an average annual rate of 34.7%, while the Biotechs industry saw earnings growing at 33.7% annually. Revenues have been growing at an average rate of 38.9% per year. Protagonist Therapeutics's return on equity is 9.9%, and it has net margins of 29.4%.

Key information

34.72%

Earnings growth rate

38.40%

EPS growth rate

Biotechs Industry Growth17.04%
Revenue growth rate38.91%
Return on equity9.85%
Net Margin29.40%
Last Earnings Update30 Jun 2026

Recent past performance updates

Recent updates

Seeking Alpha • Aug 12

Protagonist Therapeutics: 'Strong Buy' ICOTYDE FDA Approval And PN-881 Advancement

Summary Protagonist Therapeutics maintains a 'Strong Buy' rating, driven by FDA approval of ICOTYDE for moderate-to-severe plaque psoriasis and strong partnership economics. The company is advancing rusfertide for polycythemia vera, with an FDA Priority Review decision expected in August 2026 and substantial milestone and royalty potential from Takeda. The development pipeline includes the oral IL-17 antagonist PN-881 for psoriasis and other inflammatory disorders, with phase 2b study initiation planned for Q1 2027. A robust cash position of $849.5M and ongoing milestone/royalty streams support near-term operations and further clinical expansion. Read the full article on Seeking Alpha
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...
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...
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.

Revenue & Expenses Breakdown

How Protagonist Therapeutics makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGM:PTGX Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 262828348175
31 Mar 2674-11546170
31 Dec 2546-13045159
30 Sep 252094642148
30 Jun 252095241144
31 Mar 252085640140
31 Dec 2443427543138
30 Sep 2432417143132
30 Jun 2431917040127
31 Mar 2431516240126
31 Dec 2360-7933120
30 Sep 230-14032121
30 Jun 230-13831116
31 Mar 231-14030117
31 Dec 2227-12732126
30 Sep 2235-13032135
30 Jun 2245-13333146
31 Mar 2247-12232138
31 Dec 2127-12627126
30 Sep 2124-10825107
30 Jun 2127-812386
31 Mar 2131-702080
31 Dec 2029-661975
30 Sep 2026-651871
30 Jun 2017-731776
31 Mar 202-831771
31 Dec 190-771665
30 Sep 190-741563
30 Jun 192-661554
31 Mar 1922-451457
31 Dec 1831-391459
30 Sep 1840-281357
30 Jun 1843-241256
31 Mar 1831-311250
31 Dec 1720-371246
30 Sep 179-451143
30 Jun 170-481038
31 Mar 170-40931
31 Dec 160-38726
30 Sep 160-32521
30 Jun 160-28419
31 Mar 160-24415

Quality Earnings: PTGX has high quality earnings.

Growing Profit Margin: PTGX's current net profit margins (29.4%) are higher than last year (24.9%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: PTGX has become profitable over the past 5 years, growing earnings by 34.7% per year.

Accelerating Growth: PTGX's earnings growth over the past year (59.3%) exceeds its 5-year average (34.7% per year).

Earnings vs Industry: PTGX earnings growth over the past year (59.3%) did not outperform the Biotechs industry 67.9%.

Return on Equity

High ROE: PTGX's Return on Equity (9.9%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/16 00:09
End of Day Share Price 2026/08/14 00:00
Earnings2026/06/30
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 19 analysts. 12 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.