Protagonist Therapeutics: Promising Future with Rusfertide as a Standard of Care for Polycythemia Vera

In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Protagonist Therapeutics (PTGX – Research Report), with a price target of $80.00.

Douglas Tsao has given his Buy rating due to a combination of factors that highlight the promising future of Protagonist Therapeutics, particularly with its drug rusfertide. The recent presentation at ASCO 2025 showcased the full 32-week results from the Phase 3 VERIFY study, which reinforced the potential of rusfertide to become the standard of care in treating polycythemia vera (PV). The data presented demonstrated significant efficacy, including a reduction in phlebotomy treatments and the ability for half of the patients to discontinue concurrent cytoreductive medication, which is associated with dose-dependent cytotoxicity.
Furthermore, the safety profile of rusfertide has been consistently favorable, which bolsters confidence in its widespread adoption. The management’s projections of rusfertide reaching peak revenues between $1-2 billion seem realistic given the strong dataset and positive feedback from the medical community. Additionally, the potential for rusfertide to be administered at home, reducing clinic visits, is expected to be favored by payers. These factors, combined with the strategic partnership with Takeda, position Protagonist Therapeutics for substantial growth, justifying the Buy rating.

According to TipRanks, Tsao is a 4-star analyst with an average return of 7.4% and a 37.73% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, scPharmaceuticals, and Neumora Therapeutics, Inc..

In another report released today, TD Cowen also maintained a Buy rating on the stock with a $65.00 price target.