Portage Biotech (NASDAQ:PRTG) PT Lowered to $22.00

Portage Biotech (NASDAQ:PRTGGet Rating) had its price target reduced by HC Wainwright from $32.00 to $22.00 in a report released on Tuesday, The Fly reports. They currently have a buy rating on the stock.

Separately, Oppenheimer initiated coverage on Portage Biotech in a report on Friday, July 15th. They set a buy rating and a $26.00 price target for the company.

Portage Biotech Price Performance

Shares of PRTG opened at $7.71 on Tuesday. 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 $130.65 million, a P/E ratio of -6.65 and a beta of 1.81. The business has a fifty day moving average of $8.62 and a 200 day moving average of $7.84.

Portage Biotech (NASDAQ:PRTGGet Rating) last released 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). Analysts expect that Portage Biotech will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Portage Biotech

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Portage Biotech in the first quarter worth about $53,000. Sigma Planning Corp bought a new position in shares of Portage Biotech in the first quarter worth about $75,000. Goldman Sachs Group Inc. bought a new position in shares of Portage Biotech in the second quarter worth about $79,000. Beacon Investment Advisory Services Inc. bought a new position in shares of Portage Biotech in the second quarter worth about $80,000. Finally, Millennium Management LLC bought a new position in shares of Portage Biotech in the second quarter worth about $92,000. Institutional investors own 0.97% of the company’s stock.

About Portage Biotech

(Get Rating)

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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