Goldman Sachs analyst Richard Law initiated coverage of Protagonist Therapeutics (PTGX) with a Neutral rating and $47 price target Both of the company’s Phase 3 assets can succeed commercially, but they have already been licensed and offer “limited” financial and M&A upside, the analyst tells investors in a research note. Given that Protagonist’s stock price has risen over 400% in the past two years from development progression and licensing deals, the company’s current price already reflects upside from both assets, the firm added.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTGX:
- Protagonist Therapeutics initiated with an Outperform at BMO Capital
- Protagonist Therapeutics price target raised to $58 from $43 at JMP Securities
- Protagonist Therapeutics price target raised to $67 from $51 at BTIG
- Protagonist Therapeutics selects PN-881 as development candidate
- Protagonist and JNJ say icotrokinra study for PsO meets endpoint