Portage Biotech Inc. (NASDAQ:PRTG) to Post Q2 2023 Earnings of ($0.26) Per Share, Oppenheimer Forecasts

Portage Biotech Inc. (NASDAQ:PRTGGet Rating) – Research analysts at Oppenheimer boosted their Q2 2023 EPS estimates for Portage Biotech in a research note issued to investors on Wednesday, September 14th. Oppenheimer analyst M. Biegler now expects that the company will post earnings of ($0.26) per share for the quarter, up from their prior estimate of ($0.28). 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 ($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 Trading Down 3.2 %

Portage Biotech stock opened at $7.60 on Monday. Portage Biotech has a 1 year low of $4.62 and a 1 year high of $23.99. The company has a market cap of $128.78 million, a PE ratio of -6.55 and a beta of 1.81. The company’s 50-day moving average is $8.66 and its two-hundred day moving average is $7.84.

Portage Biotech (NASDAQ:PRTGGet Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.28).

Institutional Trading of Portage Biotech

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in Portage Biotech during the 1st quarter worth $53,000. Sigma Planning Corp bought a new position in Portage Biotech in the first quarter valued at about $75,000. Goldman Sachs Group Inc. acquired a new stake in shares of Portage Biotech during the second quarter valued at about $79,000. Beacon Investment Advisory Services Inc. acquired a new position in shares of Portage Biotech in the second quarter worth approximately $80,000. Finally, Millennium Management LLC acquired a new position in shares of Portage Biotech in the second quarter worth approximately $92,000. 0.97% of the stock is owned by 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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