Protagonist Therapeutics price target raised to $50 from $40 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Protagonist Therapeutics (PTGX) to $50 from $40 and keeps a Buy rating on the shares after meeting with management. The company clarified the details of the license and collaboration agreement with Takeda (TAK) over the rusfertide program that have been overlooked or misunderstood by the investment community, the analyst tells investors in a research note. The firm says the partnership’s structure is very favorable for Protagonist and the leverage that Protagonist acquired by taking the asset into Phase 3 development on its own.