Portage Biotech (NASDAQ:PRTG) Rating Reiterated by Cantor Fitzgerald

Portage Biotech (NASDAQ:PRTGGet 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.

Portage Biotech (NASDAQ:PRTGGet Rating) last posted its earnings results on Monday, August 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.22. Equities analysts expect that Portage Biotech will post -0.95 earnings per share for the current fiscal year.

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

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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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