H.C. Wainwright Raises Protagonist Therapeutics, Inc. (PTGX) Target to $117, Reiterates Buy

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On January 30, H.C. Wainwright raised its price target on Protagonist Therapeutics, Inc. (NASDAQ:PTGX) to $117 from $80 and reiterated a Buy rating. The firm cited the company’s track record in drug development and assigned probability-of-success assumptions across multiple programs, including PN-8047, its IL-4R antagonist, and obesity assets.

In early February, a company director sold 20,000 shares in a transaction valued at approximately $1.7 million, an event monitored by investors alongside ongoing pipeline developments. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) recently reported having two potential late-stage assets, Icotrokinra and Rusfertide, with NDAs submitted in 2025 for plaque psoriasis and polycythemia vera, respectively. The company also expects multiple Phase 2 and Phase 3 readouts across immunology, hematology, and obesity indications. Existing partnerships with Johnson & Johnson and Takeda include milestone and royalty structures that support non-dilutive funding.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was founded on August 22, 2006, and is headquartered in Newark, California. The company develops peptide-based therapies targeting rare diseases, hematology, and immunology.

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