Stock Analysis
Protagonist Therapeutics, IncPTGX
P/E 100.49×· 5Y range 9.67–144.44×· 67th percentile of history
Sector: Healthcare · Industry: Pharmaceutical Preparations
AnalystsStrong Buy20 analystsP/E 100.5× sits at the 67th percentile of its 5.0513347022587265-year history.
Cash covers 8491% of debt · Q2 2026.
PMP Verdict
Mixed fundamentals, fairly valued
Strengths
- Profitability82
- Financial Health75
Risks
- Growth0
- Quality35
Mixed picture — no clear quality or value edge.
Market context
-5.7% today· Z 2.9σ· PTGX dropped 5.2% on light volume amid profit-taking despite recent upgrades.
Bull Case
- ✓Altman Z 125.8 — safe-zone balance sheet
Why is PTGX moving?
TechnicalPTGX dropped 5.2% on light volume amid profit-taking despite recent upgrades.
Profile
Strong profitability and financial health; growth, moat, valuation and earnings quality lag behind.
How is each axis scored?
- Valuation10/100 · Weak
- P/E vs own history (67th pct)5/25
- FCF yield (1.6%)5/25
- P/S (31.5x)0/25
- EV/EBIT (129.5x)0/25
- Growth0/100 · Weak
- Revenue CAGR (n/a)0/25
- Net income CAGR (n/a)0/25
- EPS CAGR 5Y (n/a)0/25
- Fwd implied growth (-62.6%)0/25
- Profitability82/100 · Strong
- ROIC (67.6%)25/25
- ROE (9.9%)12/25
- Net margin (29.4%)25/25
- Operating margin (20.7%)20/25
- Financial Health75/100 · Strong
- Altman Z (125.78)25/25
- Current ratio (21.71)25/25
- Interest coverage (-107.9x)0/25
- Net cash / debt (Net cash)25/25
- Quality35/100 · Weak
- Piotroski F (4/9)10/25
- Beneish M (n/a)0/25
- FCF conversion (158%)25/25
- Margin stability (σ 236.1%)0/25
- Moat0/100 · Weak
- ROIC >12% years (1/5 yrs)0/25
- Median gross margin (n/a)0/25
- FCF-positive years (3/10 yrs)0/25
- Worst-year net margin (n/a)0/25
Risk Flags
- ⚠9 loss-making years in recent history
- ⚠Interest coverage -107.9× — thin debt cushion
About Protagonist Therapeutics, Inc
Protagonist Therapeutics Inc is a biopharmaceutical company engaged in the discovery and development of peptide-based therapeutics using its proprietary technology platform. Show more
The company focuses on three therapeutic areas: inflammation and immunology, hematology, and metabolic diseases. Its pipeline includes clinical-stage and preclinical candidates such as rusfertide for polycythemia vera, icotrokinra for inflammatory diseases, and other programs targeting IL-17, obesity, and iron metabolism disorders, developed through internal research and strategic collaborations.
Headquarters: NEWARK, CA · Employees: 141 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
10EP/E (TTM)100.5xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 9.7x–144.4x · 67th pct
P/FCF40.6xC
Grade C: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield1.6%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -34.4%–13.0% · 80th pct
P/S (TTM)31.52xD
Grade D: ExpensivePrice / TTM Revenue (own statements) — vs own 5Y history: 6.2x–869.8x · 37th pct
EV/EBIT129.5xD
Grade D: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 8.4x–319.1x · 62nd pct
EV/Sales30.0xD
Grade D: Very expensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E269.0xD
Grade D: ExpensivePrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio9.90xD
Grade D: Very expensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio2.89C
Grade C: ExpensiveFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
82AROIC67.6%A
Grade A: MoatNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE9.9%D
Grade D: WeakReturn on Equity. Neg. equity = heavy buybacks
ROA11.2%A
Grade A: StrongReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin29.4%A
Grade A: HighNet Income / Revenue
Operating Margin—
TTM EBIT / TTM Revenue
Gross Margin—
Gross Profit / Revenue
FCF Margin48.4%A
Grade A: HighFCF / Revenue
True FCF Margin—
TTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
0ERevenue CAGR—
Compound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR—
Compound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)—
Compound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth-62.6%D
Grade D: Decl.Analyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)—
Share count change over 5Y
SBC / Net Income60.1%D
Grade D: HighStock-based comp/Net income. >30% = dilution risk
SBC / Revenue—
TTM stock-based comp / TTM Revenue
Financial Health
75B+Altman Z-Score125.78A
Grade A: SafeBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio21.71xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio21.58xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage-107.9xD
Grade D: RiskyEBIT/Interest. >10 Strong
Debt RepaymentNet CashA
Grade A: FastYears to repay net debt via FCF
Net Debt/EBITNet CashA
Grade A: LowLeverage. <2x Low, >4x High
Debt/Equity0.01xA
Grade A: LowDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt84.91xA
Grade A: CoveredCash covers how much of total debt. >1 = could repay all debt from cash
Quality
35DPiotroski F-Score4/9C
Grade C: AverageFinancial strength 0–9. >7 Strong
Beneish M-Score—
Earnings manipulation risk. < -2.22 Safe
FCF Conversion157.5%A
Grade A: StrongFCF / Net Income
Margin Stability236.1%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue—
TTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.38xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Ali Asif Filed | Ali Asif | Option exercise | -5312 | |
Ali Asif Filed | Ali Asif | Option exercise | -15650 | |
Ali Asif Filed | Ali Asif | Option exercise | -28438 | |
Ali Asif Filed | Ali Asif | Option exercise | -9229 | |
Ali Asif Filed | Ali Asif | SellOpen market sale | -46034 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Ali Asif Filed | Ali Asif | SellOpen market sale | -12595 | |
Ali Asif Filed | Ali Asif | Option exercise | +5.3K | |
Ali Asif Filed | Ali Asif | Option exercise | +15.7K |
Option exercise (M) rows report a derivative leg, not an open-market sale — a paired negative entry is the option position being consumed.
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
0EROIC >12% Years1/5 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)—
Median annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years3/10 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor—
Weakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$1.28
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$12.10
Cash & short-term investments per share (Finnhub)
Book Value / Share$13.01
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$9.22M
Total debt obligations (short + long term)
Cash & Equiv.$782.58M
Cash and short-term investments
Net Debt$-773.36MA
Grade A: Net CashTotal Debt minus Cash. Negative = Net Cash position
Total Equity$841.54M
Shareholders' equity (book value)
Asset / Liability20.13xA
Grade A: SolidTotal Assets / Total Liabilities
Market
Market Cap$8.33B
Current Market Capitalization
Beta1.19B
Grade B: MarketPrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Protagonist Therapeutics, Inc (PTGX)
PTGX is down 5.71% at the last close — PTGX dropped 5.2% on light volume amid profit-taking despite recent upgrades.. Piotroski F-Score of 4/9 indicates mixed fundamentals for Protagonist Therapeutics, Inc. Altman Z-Score of 125.78 sits comfortably in the safe zone (≥ 2.99), indicating low bankruptcy risk. Protagonist Therapeutics, Inc converts about 48% of revenue into free cash flow — strong cash generation.
- Company is effectively debt-free after netting cash.
- Interest coverage of -107.9× leaves little room for earnings shocks.
- Protagonist Therapeutics, Inc posted a net loss in 9 of 10 available completed fiscal years (2016–2025).
- At a valuation score of 10/100, PTGX trades at a premium to its historical multiples (P/E 100.5).
See how PTGX ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all PTGX moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 16 | Regular | 129.71 | -5.01% | -2.55 |
| Oct 16 | After-hours | 128.75 | -5.71% | -2.94 |
| Oct 13 | Regular | 139.73 | -3.55% | -2.27 |
| Oct 13 | After-hours | 139.47 | -3.73% | -2.39 |
| Oct 9 | Regular | 144.18 | +3.05% | 2.05 |
Frequently Asked Questions about PTGX
What is the current Protagonist Therapeutics, Inc (PTGX) stock price?
PTGX is trading at $128.75 at the last market close, down 5.71% on the session. PreMarketPrice tracks PTGX pre-market, intraday and after-hours prices.
Is PTGX stock a buy right now?
PreMarketPrice's quantitative model rates Protagonist Therapeutics, Inc's financial health at 75/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is PTGX stock overvalued?
Protagonist Therapeutics, Inc trades at a trailing P/E of 100.5 and our valuation score rates it 10/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Protagonist Therapeutics, Inc report earnings?
No confirmed earnings date is currently scheduled for PTGX. The Earnings section lists recent reports and updates as dates are announced.
What sector does Protagonist Therapeutics, Inc operate in?
Protagonist Therapeutics, Inc operates in the Healthcare sector, within the Pharmaceutical Preparations industry. The Related Stocks section lists sector peers for comparison.
What does Protagonist Therapeutics, Inc do?
Protagonist Therapeutics Inc is a biopharmaceutical company engaged in the discovery and development of peptide-based therapeutics using its proprietary technology platform.
About Protagonist Therapeutics, Inc (PTGX) Stock
Protagonist Therapeutics, Inc (PTGX) is a US-listed stock operating in the Healthcare sector, specifically the Pharmaceutical Preparations industry. As of the latest update, Protagonist Therapeutics, Inc is trading at $128.75, down 5.71% on the day with a market capitalization of $8.3 billion. The financial health score for PTGX is 75/100, which indicates excellent financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for PTGX stock.
PTGX Stock Analysis & Key Metrics
On PreMarketPrice, you can track Protagonist Therapeutics, Inc (PTGX) across multiple dimensions:
- Pre-market price & movement: Real-time PTGX stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for PTGX with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Protagonist Therapeutics, Inc across multiple reporting periods.
- Financial health score: A composite score of 75/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for PTGX.
- Sector peers: Compare PTGX against 6 other healthcare stocks on key financial metrics.
Is PTGX a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Protagonist Therapeutics, Inc (PTGX) as an investment. The financial health score of 75/100 suggests excellent financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Protagonist Therapeutics, Inc (PTGX) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.