Protagonist Therapeutics (PTGX) Reports Q2 Loss, Misses Revenue Estimates

Core Insights - Protagonist Therapeutics reported a quarterly loss of $0.50 per share, which aligns with the Zacks Consensus Estimate, showing an improvement from a loss of$ 0.68 per share a year ago [1] - The company posted revenues of $4.17 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 89.58%, compared to zero revenues a year ago [2] - Protagonist Therapeutics shares have increased approximately 56.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$ 0.64 on $5 million in revenues, while for the current fiscal year, it is$ 2.24 on $303.73 million in revenues [7] - The estimate revisions trend for Protagonist Therapeutics is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Protagonist Therapeutics belongs, is currently in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]