Oppenheimer Research Analysts Increase Earnings Estimates for Portage Biotech Inc. (NASDAQ:PRTG)

Portage Biotech Inc. (NASDAQ:PRTGGet Rating) – Equities researchers at Oppenheimer lifted their Q2 2023 earnings per share (EPS) estimates for shares of Portage Biotech in a research report issued to clients and investors on Wednesday, September 14th. Oppenheimer analyst M. Biegler now expects that the company will earn ($0.26) per share for the quarter, up from their prior forecast of ($0.28). Oppenheimer has a “Buy” rating and a $26.00 price objective on the stock. The consensus estimate for Portage Biotech’s current full-year earnings is ($0.95) per share. Oppenheimer also issued estimates for Portage Biotech’s Q3 2023 earnings at ($0.27) EPS, Q4 2023 earnings at ($0.28) EPS, FY2023 earnings at ($0.96) EPS and FY2024 earnings at ($1.27) EPS.

Portage Biotech (NASDAQ:PRTGGet Rating) last posted its earnings results 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 Price Performance

Shares of PRTG opened at $7.60 on Monday. Portage Biotech has a one year low of $4.62 and a one year high of $23.99. The firm has a market capitalization of $128.78 million, a P/E ratio of -6.55 and a beta of 1.81. The business has a fifty day moving average of $8.66 and a 200 day moving average of $7.84.

Hedge Funds Weigh In On Portage Biotech

Several institutional investors and hedge funds have recently bought and sold shares of PRTG. Citadel Advisors LLC purchased a new stake in shares of Portage Biotech in the second quarter worth about $137,000. Millennium Management LLC bought a new position in shares of Portage Biotech during the second quarter valued at approximately $92,000. Beacon Investment Advisory Services Inc. bought a new position in shares of Portage Biotech during the second quarter valued at approximately $80,000. Sigma Planning Corp purchased a new stake in shares of Portage Biotech in the first quarter valued at approximately $75,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Portage Biotech in the second quarter valued at approximately $79,000. 0.97% of the stock is currently owned by hedge funds and other institutional investors.

About Portage Biotech

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

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