H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Protagonist Therapeutics today and set a price target of $117.00.
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Douglas Tsao has given his Buy rating due to a combination of factors related to Icotyde’s approval and Protagonist’s financial outlook. He sees Icotyde’s early, favorable U.S. approval and distinctive label—highlighting strong efficacy, a broad plaque psoriasis indication including adolescents, and a benign safety profile versus both oral and injectable competitors—as a major value driver that positions the drug to capture substantial market share.
In addition, Tsao points to Protagonist’s increasingly robust balance sheet and royalty stream, including the upfront Icotyde milestone, tiered sales royalties, and sizable expected cash inflows from Takeda, as providing ample capital for growth initiatives. He believes this cash can fund both shareholder returns and expansion of Protagonist’s pipeline—particularly its early-stage inflammation and obesity programs—thereby supporting long-term value creation that justifies a Buy rating and his $117 price target.
Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Argenx Se, and Arcutis Biotherapeutics. According to TipRanks, Tsao has an average return of 17.3% and a 48.09% success rate on recommended stocks.
In another report released today, TipRanks – Google also reiterated a Buy rating on the stock with a $110.00 price target.