Wedbush analyst Yun Zhong has maintained their bullish stance on PTGX stock, giving a Buy rating today.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight Protagonist Therapeutics’ promising developments in the obesity treatment space. The company has introduced a new candidate, PN-477, which is a triple receptor agonist targeting GIP, GLP-1, and glucagon. This candidate is designed to be available in both oral and subcutaneous formulations, offering flexibility and potentially superior efficacy in weight loss compared to existing treatments like Eli Lilly’s retatrutide.
Protagonist Therapeutics’ strategic approach includes leveraging their strong cash position to support the development of their programs through at least the end of 2028. The company’s focus on engineering receptor binding for optimal profile, good gastrointestinal tolerability, and lean mass preservation positions them well in the competitive obesity market. Additionally, the anticipated entry of their oral IL-17 antagonist into clinical trials and the nomination of an oral hepcidin candidate in late 2025 mark significant growth opportunities, reinforcing the potential of their technology platform.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $66.00 price target.