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Protagonist Therapeutics (PTGX) Soars 5%: Is Further Upside Left in the Stock?

This story originally appeared on Zacks

Protagonist Therapeutics PTGX shares rallied 5% in the last trading session to close at $28.73. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 23.9% loss over the past four weeks.

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The rise in share prices is most likely to have been driven by the positive updates for the company’s pipeline anticipated by the investors in the company’s presentation at the 11th Annual SVB Leerink Global Healthcare Conference scheduled on Feb 17.

This biopharmaceutical company is expected to post quarterly loss of $0.79 per share in its upcoming report, which represents a year-over-year change of -64.6%. Revenues are expected to be $7.38 million, up 30.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Protagonist Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PTGX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

Protagonist Therapeutics belongs to the Zacks Medical – Biomedical and Genetics industry. Another stock from the same industry, Regenxbio RGNX, closed the last trading session 7.4% higher at $26.95. Over the past month, RGNX has returned -10.2%.

For Regenxbio, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.28. This represents a change of +445.2% from what the company reported a year ago. Regenxbio currently has a Zacks Rank of #3 (Hold).

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