Portage Biotech (NASDAQ:PRTG) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Portage Biotech (NASDAQ:PRTG) issued its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03, MarketWatch Earnings reports.

NASDAQ:PRTG opened at $16.99 on Wednesday. Portage Biotech has a 12 month low of $11.85 and a 12 month high of $44.98. The company’s 50 day moving average is $20.55 and its 200-day moving average is $22.42.

Several institutional investors have recently made changes to their positions in PRTG. Morgan Stanley acquired a new stake in shares of Portage Biotech in the first quarter worth $225,000. Bank of America Corp DE acquired a new stake in shares of Portage Biotech in the second quarter worth $38,000. Millennium Management LLC acquired a new stake in shares of Portage Biotech in the second quarter worth $245,000. Geode Capital Management LLC grew its stake in shares of Portage Biotech by 30.2% in 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 last quarter. Finally, American International Group Inc. grew its stake in shares of 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 acquiring an additional 716 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company’s stock.

A number of research firms have recently commented on PRTG. B. Riley began coverage on shares of Portage Biotech in a research report on Thursday, September 2nd. They issued a “buy” rating and a $40.00 price target on the stock. Oppenheimer began coverage on shares of Portage Biotech in a research report on Monday, September 20th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Portage Biotech in a research report on Thursday, August 19th. They issued an “overweight” rating and a $35.00 price target on the stock.

Portage Biotech Company Profile

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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