Wedbush analyst Yun Zhong has maintained their bullish stance on PTGX stock, giving a Buy rating yesterday.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight Protagonist Therapeutics’ promising future. The company has demonstrated significant potential through its positive clinical data across key programs, particularly with icotrokinra, which is poised to redefine the standard of care in psoriasis and potentially transform treatment paradigms in autoimmune diseases. The anticipation of a strong sales trajectory for icotrokinra, as projected by its partner JNJ, underscores its market potential.
Moreover, Protagonist Therapeutics’ robust financial position, with substantial cash reserves to support its growth initiatives through at least the end of 2028, adds to the confidence in its long-term viability. The upcoming milestones, including the nomination of an obesity candidate and the initiation of a Phase 1 study for an oral IL-17 antagonist, are expected to catalyze the next phase of growth. These strategic developments, coupled with the potential for lucrative milestone and royalty payments from its partnership with Takeda, reinforce the Buy rating as the company is well-positioned to capitalize on large market opportunities.
Zhong covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Ascendis Pharma, and Voyager Therapeutics. According to TipRanks, Zhong has an average return of -19.3% and a 32.29% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $65.00 price target.