BMO Capital analyst Etzer Darout reiterated a Buy rating on Protagonist Therapeutics (PTGX – Research Report) on February 21 and set a price target of $62.00.
Etzer Darout has given his Buy rating due to a combination of factors surrounding Protagonist Therapeutics’ promising pipeline and strategic partnerships. The company is poised for significant developments in 2025, particularly with its late-stage clinical trials. The upcoming results from the Phase 3 VERIFY trial for rusfertide in treating polycythemia vera and the Phase 2b ANTHEM clinical trial for icotrokinra in ulcerative colitis are key catalysts that could drive value.
Protagonist Therapeutics’ strategic collaboration with Takeda and JNJ further bolsters its growth potential. The company’s peptide technology platform is advancing treatments in hematology and immunology, potentially capturing substantial market share in these fields. Additionally, PTGX’s strong financial position, with cash runway through 2028, supports its ongoing research and development efforts, which enhances investor confidence in its long-term success.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $54.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTGX in relation to earlier this year.