Portage Biotech (NASDAQ:PRTG) Issues Earnings Results

Portage Biotech (NASDAQ:PRTG) posted its quarterly earnings data on Monday. The company reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03, MarketWatch Earnings reports.

Shares of NASDAQ PRTG opened at $16.99 on Wednesday. Portage Biotech has a twelve month low of $11.85 and a twelve month high of $44.98. The stock’s 50 day moving average price is $20.55 and its 200-day moving average price is $22.42.

Several equities analysts have recently issued reports on PRTG shares. Cantor Fitzgerald began coverage on Portage Biotech in a research note on Thursday, August 19th. They issued an “overweight” rating and a $35.00 price target on the stock. B. Riley started coverage on Portage Biotech in a report on Thursday, September 2nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Oppenheimer started coverage on Portage Biotech in a research note on Monday, September 20th. They issued an “outperform” rating and a $30.00 price objective on the stock.

Several institutional investors have recently added to or reduced their stakes in PRTG. Millennium Management LLC increased its stake in Portage Biotech by 141.8% in the third quarter. Millennium Management LLC now owns 28,210 shares of the company’s stock valued at $573,000 after acquiring an additional 16,543 shares during the last quarter. 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 purchasing an additional 10,590 shares during the period. Morgan Stanley purchased a new stake in Portage Biotech in the first quarter worth about $225,000. Bank of America Corp DE purchased a new stake in Portage Biotech in the second quarter worth about $38,000. Finally, American International Group Inc. lifted its holdings in Portage Biotech by 35.4% in the third quarter. American International Group Inc. now owns 2,736 shares of the company’s stock worth $56,000 after buying an additional 716 shares during the period. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

About Portage Biotech

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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