Q2 2023 Earnings Forecast for Portage Biotech Inc. Issued By Oppenheimer (NASDAQ:PRTG)

Portage Biotech Inc. (NASDAQ:PRTGGet Rating) – Equities research analysts at Oppenheimer issued their Q2 2023 earnings estimates for shares of Portage Biotech in a report issued on Tuesday, August 2nd. Oppenheimer analyst K. Degeeter expects that the company will post earnings per share of ($0.28) for the quarter. Oppenheimer currently has a “Buy” rating and a $26.00 target price on the stock. The consensus estimate for Portage Biotech’s current full-year earnings is ($1.05) per share. Oppenheimer also issued estimates for Portage Biotech’s Q3 2023 earnings at ($0.29) EPS, Q4 2023 earnings at ($0.31) EPS, FY2023 earnings at ($1.20) EPS and FY2024 earnings at ($1.40) EPS.

Portage Biotech (NASDAQ:PRTGGet Rating) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.28).

Portage Biotech Stock Down 1.8 %

Shares of Portage Biotech stock opened at $9.26 on Friday. The stock has a market capitalization of $156.91 million, a P/E ratio of -7.37 and a beta of 1.69. The company has a 50-day simple moving average of $8.99 and a 200 day simple moving average of $7.92. Portage Biotech has a 12-month low of $4.62 and a 12-month high of $23.99.

Institutional Investors Weigh In On Portage Biotech

A number of hedge funds have recently made changes to their positions in PRTG. Allspring Global Investments Holdings LLC acquired a new stake in shares of Portage Biotech during the 1st quarter worth about $53,000. Sigma Planning Corp acquired a new stake in shares of Portage Biotech during the 1st quarter worth about $75,000. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Portage Biotech during the 2nd quarter worth about $80,000. Renaissance Technologies LLC increased its position in shares of Portage Biotech by 36.6% during the 1st quarter. Renaissance Technologies LLC now owns 37,300 shares of the company’s stock worth $245,000 after purchasing an additional 10,000 shares in the last quarter. Finally, BlackRock Inc. increased its position in Portage Biotech by 3.2% in the 1st quarter. BlackRock Inc. now owns 227,995 shares of the company’s stock valued at $1,497,000 after acquiring an additional 6,990 shares in the last quarter. Institutional investors and hedge funds own 4.57% of the company’s stock.

Portage Biotech Company Profile

(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.

Featured Articles

Earnings History and Estimates for Portage Biotech (NASDAQ:PRTG)

Want More Great Investing Ideas?

Receive News & Ratings for Portage Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portage Biotech and related companies with MarketBeat.com's FREE daily email newsletter.