In a report released today, Yun Zhong from Wedbush maintained a Buy rating on Protagonist Therapeutics, with a price target of $86.00.
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Yun Zhong’s rating is based on the promising clinical data from Protagonist Therapeutics’ rusfertide studies, which demonstrate the drug’s potential in treating polycythemia vera (PV). The Phase 3 VERIFY study and the Phase 2 extension study presented at ASH showed that rusfertide effectively maintains long-term control of hematocrit levels while reducing the need for phlebotomy. These results not only reinforce the drug’s safety and efficacy profile but also support its potential FDA approval in 2026.
Additionally, the high compliance rates and durable efficacy observed in the studies suggest a strong clinical profile for rusfertide. Protagonist Therapeutics is also on track with its plans for an NDA submission and the nomination of an oral candidate with a similar mechanism of action by the fourth quarter of 2025. The collaboration with Takeda further strengthens the commercial prospects, with significant milestone payments and royalties expected. These factors collectively contribute to Yun Zhong’s Buy rating for Protagonist Therapeutics.
Zhong covers the Healthcare sector, focusing on stocks such as Rezolute, Protagonist Therapeutics, and MannKind. According to TipRanks, Zhong has an average return of -7.0% and a 44.05% success rate on recommended stocks.
In another report released today, Citi also maintained a Buy rating on the stock with a $115.00 price target.