Portage Biotech Inc. (NASDAQ:PRTG) Forecasted to Earn FY2023 Earnings of ($0.60) Per Share

Portage Biotech Inc. (NASDAQ:PRTGGet Rating) – Cantor Fitzgerald issued their FY2023 EPS estimates for Portage Biotech in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst L. Watsek anticipates that the company will post earnings of ($0.60) per share for the year.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Portage Biotech from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. HC Wainwright initiated coverage on Portage Biotech in a research report on Monday, March 7th. They issued a “buy” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $28.65.

NASDAQ:PRTG opened at $11.07 on Thursday. The stock’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $9.04. Portage Biotech has a 52-week low of $4.62 and a 52-week high of $44.98.

A number of hedge funds and other institutional investors have recently made changes to their positions in PRTG. Morgan Stanley acquired a new position in Portage Biotech during the first quarter worth approximately $225,000. Bank of America Corp DE bought a new stake in shares of Portage Biotech during the second quarter worth approximately $38,000. Millennium Management LLC bought a new stake in shares of Portage Biotech during the second quarter worth approximately $245,000. BlackRock Inc. boosted its holdings in shares of Portage Biotech by 19.7% during the third quarter. BlackRock Inc. now owns 213,123 shares of the company’s stock worth $4,331,000 after acquiring an additional 35,096 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Portage Biotech by 30.2% during the third quarter. Geode Capital Management LLC now owns 45,629 shares of the company’s stock worth $927,000 after acquiring an additional 10,590 shares during the period. 4.57% of the stock is currently owned by hedge funds and other institutional investors.

About Portage Biotech (Get Rating)

Portage Biotech Inc, together with its subsidiaries, researches and develops pharmaceutical and biotechnology products. The company's product includes IMM60, an iNKT cell activator; IMM65, a PLGA-nanoparticle combined with a NY-ESO-1 peptide vaccine; INT230-6 that is in Phase I/II clinical trials for the treatment of solid tumors; STING, a small molecule that binds to the stimulator of interferon genes in cancer; CellPorter, a cell permeable peptide platform technology derived from human proteins; PPL-003, an ophthalmic solution; and SBI-101, a blood-conditioning technology to restore balance to the immune system after acute vital organ injury, such as acute kidney injury.

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