Brokers Issue Forecasts for Portage Biotech Inc.’s FY2023 Earnings (NASDAQ:PRTG)

Portage Biotech Inc. (NASDAQ:PRTGGet Rating) – Cantor Fitzgerald issued their FY2023 earnings estimates for shares of Portage Biotech in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst L. Watsek forecasts that the company will earn ($0.60) per share for the year.

PRTG has been the subject of a number of other research reports. Zacks Investment Research cut Portage Biotech from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. HC Wainwright began coverage on Portage Biotech in a research report on Monday, March 7th. They issued a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to, Portage Biotech presently has an average rating of “Buy” and a consensus target price of $28.65.

Shares of PRTG stock opened at $11.07 on Thursday. Portage Biotech has a twelve month low of $4.62 and a twelve month high of $44.98. The firm has a 50-day moving average price of $6.98 and a 200 day moving average price of $9.04.

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Portage Biotech during the second quarter worth $38,000. Wells Fargo & Company MN grew its stake in shares of Portage Biotech by 415.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,662 shares of the company’s stock worth $40,000 after purchasing an additional 2,952 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Portage Biotech during the first quarter worth $53,000. American International Group Inc. grew its stake in Portage Biotech by 35.4% in the third quarter. American International Group Inc. now owns 2,736 shares of the company’s stock valued at $56,000 after acquiring an additional 716 shares during the period. Finally, Sigma Planning Corp acquired a new position in Portage Biotech in the first quarter valued at about $75,000. Institutional investors own 4.57% of the company’s stock.

Portage Biotech Company Profile (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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