Portage Biotech (NASDAQ:PRTG – Get Rating)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Portage Biotech’s FY2023 earnings at ($1.16) EPS.
A number of other analysts have also weighed in on the stock. HC Wainwright dropped their target price on shares of Portage Biotech from $32.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer started coverage on shares of Portage Biotech in a report on Friday, July 15th. They issued a “buy” rating and a $26.00 price objective for the company.
Portage Biotech Stock Down 4.8 %
NASDAQ PRTG opened at $6.87 on Wednesday. The company has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $7.82. Portage Biotech has a 12-month low of $4.62 and a 12-month high of $23.99. The firm has a market cap of $116.38 million, a price-to-earnings ratio of -5.92 and a beta of 1.81.
Hedge Funds Weigh In On Portage Biotech
Institutional investors and hedge funds have recently made changes to their positions in the business. Sigma Planning Corp bought a new position in shares of Portage Biotech during the first quarter valued at approximately $75,000. BlackRock Inc. increased its position in shares of Portage Biotech by 3.2% during the first quarter. BlackRock Inc. now owns 227,995 shares of the company’s stock valued at $1,497,000 after acquiring an additional 6,990 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Portage Biotech by 36.6% during the first quarter. Renaissance Technologies LLC now owns 37,300 shares of the company’s stock valued at $245,000 after acquiring an additional 10,000 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Portage Biotech during the second quarter valued at approximately $137,000. Finally, Millennium Management LLC bought a new stake in shares of Portage Biotech during the second quarter valued at approximately $92,000. Institutional investors own 0.97% of the company’s stock.
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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