Protagonist Therapeutics, Inc. (NASDAQ:PTGX) last week reported its latest first-quarter results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. In addition to smashing expectations with revenues of US$56m, Protagonist Therapeutics delivered a surprise statutory profit of US$0.05 per share, a notable improvement compared to analyst expectations of a loss. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

Taking into account the latest results, the consensus forecast from Protagonist Therapeutics' eleven analysts is for revenues of US$553.8m in 2026. This reflects a sizeable 648% improvement in revenue compared to the last 12 months. Earnings are expected to improve, with Protagonist Therapeutics forecast to report a statutory profit of US$4.54 per share. Before this earnings report, the analysts had been forecasting revenues of US$441.8m and earnings per share (EPS) of US$3.00 in 2026. There has definitely been an improvement in perception after these results, with the analysts noticeably increasing both their earnings and revenue estimates.

Despite these upgrades,the analysts have not made any major changes to their price target of US$116, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Protagonist Therapeutics analyst has a price target of US$137 per share, while the most pessimistic values it at US$100.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The analysts are definitely expecting Protagonist Therapeutics' growth to accelerate, with the forecast 14x annualised growth to the end of 2026 ranking favourably alongside historical growth of 40% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 21% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Protagonist Therapeutics to grow faster than the wider industry.

The Bottom Line

The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Protagonist Therapeutics' earnings potential next year. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. The consensus price target held steady at US$116, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Protagonist Therapeutics going out to 2028, and you can see them free on our platform here..

We also provide an overview of the Protagonist Therapeutics Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.