Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
Upturn AI Summary - About
Protagonist Therapeutics Inc(PTGX)
Top performer 
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for PTGX
11/03/2026: PTGX (4-star) is currently NOT-A-BUY. Pass it for now.
Protagonist Therapeutics is a clinical-stage biotechnology company focused on developing novel peptide-based drugs for hematology and inflammatory conditions. Its primary strength lies in a proprietary technology platform that has already yielded promising clinical results and validated strategic partnerships. The core investment story centers on the potential approval and commercialization of its lead candidate, rusfertide, which addresses significant unmet needs. However, the company faces substantial risks related to clinical trial outcomes, regulatory processes, and intense competition from larger pharmaceutical incumbents. The stock best suits growth-oriented investors with a high risk tolerance who are monitoring key clinical milestones and partnership-driven revenue developments.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | The company offers high-growth potential driven by its clinical-stage drug pipeline. |
| Momentum investor | Strong fit while signal remains positive | The stock can exhibit high volatility and momentum around clinical trial data announcements. |
| Value investor | Weak fit | As a loss-making clinical-stage company, traditional value metrics do not apply. |
| Dividend investor | Weak fit | The company does not pay dividends and prioritizes capital reinvestment. |
| Low-risk investor | Weak fit | The biotechnology sector, particularly clinical-stage firms, involves significant risk and price volatility. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | Clinical trial outcomes can cause massive swings in market valuation. |
| Valuation risk | Medium / high | Valuations are highly sensitive to long-term commercial success projections. |
| Competition risk (Hematology/Immunology) | High | Larger incumbents can dominate market access and pricing. |
| Business quality | Medium | The company relies on its ability to successfully navigate complex regulatory processes. |
| Dividend income | Low / none | No cash flow is generated for distribution to shareholders. |
| Execution risk | High | Failure at any late-stage clinical gate is a material risk to shareholder value. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Moderately Choppy
The stock has experienced noticeable price swings while retaining some directional structure.
Analysis of Past Performance
Type Stock | Historic Profit 241.96% | Avg. Invested days 66 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  5.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 11/03/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 9.02B USD | Price to earnings Ratio 135.31 | 1Y Target Price 178.57 |
Price to earnings Ratio 135.31 | 1Y Target Price 178.57 | ||
Volume (30-day avg) 734.3K shares | Beta 1.22 | 52 Weeks Range 75.55 - 160.81 | Updated Date 11/03/2026 |
52 Weeks Range 75.55 - 160.81 | Updated Date 11/03/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.03 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Drug Development Partnerships | Upfront payments, milestone payments, and potential royalties from collaborations with major pharmaceutical companies. | Revenue is currently episodic and milestone-driven rather than from consistent product sales. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2026-11-05 | When After Market | Estimate 2.58 | Actual - |
Profitability
Profit Margin 29.4% | Operating Margin (TTM) 74.37% |
Management Effectiveness
Return on Assets (TTM) 4.55% | Return on Equity (TTM) 10.99% |
Valuation
Trailing PE 135.31 | Forward PE 36.9 | Enterprise Value 8.60B | Price to Sales(TTM) 31.98 |
Enterprise Value 8.60B | Price to Sales(TTM) 31.98 | ||
Enterprise Value to Revenue 30.51 | Enterprise Value to EBITDA 143.67 | Shares Outstanding 64.71M | Shares Floating 52.89M |
Shares Outstanding 64.71M | Shares Floating 52.89M | ||
Percent Insiders 0.71 | Percent Institutions 119.6 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.