Protagonist Therapeutics price target raised to $54 from $50 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao raised the firm’s price target on Protagonist Therapeutics (PTGX) to $54 from $50 and keeps a Buy rating on the shares. The Phase 3 readout for rusfertide in the VERIFY study in polycythemia vera in March is the next major catalyst for the shares, though with icotrokinra and PN-881, Protagonist “has multiple value drivers,” the analyst tells investors in a research note. The firm sees “significant value” in rusftertide with the Phase 3 readout imminent. It increased the probability of success for the program from 65% to 75%.