Protagonist Therapeutics, Inc.
PTGX
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- Protagonist Therapeutics is positioned in a competitive biotechnology sector with a strong focus on innovative therapies, which can lead to significant market opportunities.
- In Q2 2026, Protagonist reported a remarkable revenue increase of 279% compared to the previous quarter, reaching $213 million.
- The operating margin improved significantly to 74.4%, indicating strong operational efficiency.
- Despite recent revenue growth, the company has faced substantial operating losses in previous quarters, raising concerns about sustainability.
- In Q1 2026, Protagonist's operating margin was negative at -6.5%, highlighting ongoing financial challenges.
- The company's trailing P/E ratio stands at 134.65, suggesting that the stock may be overvalued given its current earnings performance.
Fundamentals
| Market cap | $9.05B | Enterprise value | $8.28B | Trailing P/E | 135.83 | Forward P/E | -702.54 |
| PEG | — | Price / book | 10.75 | Beta | 1.52 | Dividend yield | 0.00% |
| Revenue growth | 37.5% | Earnings growth | — | Gross margin | 100.0% | Operating margin | 74.4% |
| Profit margin | 29.4% | ROE | 11.0% | ROA | 4.5% | Debt / equity | 0.01 |
| Current ratio | 21.71 | Free cash flow | $96.15M | Analyst recommendation | strong_buy | Mean target | $174.69 |
| 52w high | $160.81 | 52w low | $65.75 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $213M | $56.4M | $7.4M | $4.7M | $5.5M |
| Op margin | 74.4% | -6.5% | -677.1% | -985.2% | -758.0% |
| Net income | $163M | $3.8M | -$44.4M | -$39.3M | -$34.8M |
| Gross margin | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | $159M | -$3.6M | -$50.4M | -$46.4M | -$42.0M |
- Revenue +279% vs prior quarter ($213M vs $56M).
- Operating margin expanded to 74.4%.
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $46.0M | $434M | $60.0M | $26.6M | — |
| Op margin | -343.6% | 58.2% | -156.1% | -494.2% | — |
| Net income | -$130M | $275M | -$79.0M | -$127M | — |
| Gross margin | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | -$158M | $253M | -$93.7M | -$131M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-09-25 · The Peptide Boom That Isn’t About Your Muscles
2026-09-21 · Psoriatic Arthritis Market Landscape: 6 Key Late-Stage Drugs Set to Drive Future Growth | DelveInsight
2026-09-18 · J&J Up 18% in Three Months: Buy, Sell or Hold the Stock?
2026-09-11 · Protagonist Therapeutics Insider Sold Shares Worth $18,240,568, According to a Recent SEC Filing
2026-09-08 · Protagonist Therapeutics Announces $300 Million Share Repurchase Program
2026-09-06 · Protagonist (PTGX) Swings To A Profit As Two Drugs Near Blockbuster Status
2026-09-04 · MIMRYLO Approval Triggered $275M Payments for Protagonist (PTGX). Are Royalties the Better Commercial Model?
2026-09-02 · Protagonist Therapeutics to Participate in Two Investment Bank Conferences in September 2026
2026-09-01 · Protagonist Therapeutics (PTGX) Stock Could Be Overvalued Following FDA Approval News
2026-09-01 · Protagonist Therapeutics (PTGX) Could Be 63% Below Fair Value After Investor Update Call
2026-09-01 · Why Is Protagonist Therapeutics (PTGX) In Focus After MIMRYLO FDA Approval?
Price (daily)
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