Wedbush analyst Yun Zhong has maintained their bullish stance on PTGX stock, giving a Buy rating today.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Yun Zhong has given his Buy rating due to a combination of factors including the promising clinical data of Protagonist Therapeutics’ icotrokinra in treating psoriasis. The recent subgroup analysis in adolescents from the Phase 3 ICONIC-LEAD study demonstrated significant efficacy, with higher response rates than the overall study population. This includes impressive scores for PGA 0/1 and PASI 90, which continued to improve through Week 24, indicating strong potential for icotrokinra as a front-line oral therapy.
Furthermore, Protagonist Therapeutics’ strategic plans for 2025 add to the positive outlook. The company aims to expand its technology platform by nominating candidates for its oral obesity and hepcidin programs, with potential partnerships to enhance its portfolio. The initiation of a Phase 1 study for PN-881, targeting IL-17, also highlights the long-term potential of PTGX’s orally available peptide platform, making it an attractive investment opportunity.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $68.00 price target.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTGX in relation to earlier this year.