Analyst Douglas Tsao of H.C. Wainwright reiterated a Buy rating on Protagonist Therapeutics, retaining the price target of $80.00.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight the promising potential of Protagonist Therapeutics. The company’s recent submission of a New Drug Application (NDA) for icotrokinra, aimed at treating severe plaque psoriasis, is supported by strong data from four pivotal Phase 3 studies. The results have shown significant efficacy, with a notable percentage of patients achieving completely clear skin, comparable to injectable biologics, which positions icotrokinra as a potentially best-in-class oral treatment. This convenience of an oral option is expected to appeal particularly to adolescent patients who may avoid injectable treatments.
Additionally, Protagonist Therapeutics is advancing rusfertide for Polycythemia Vera (PV), with an NDA filing anticipated in the fourth quarter of 2025. The Phase 3 VERIFY study has demonstrated compelling results, suggesting rusfertide could become a standard of care in PV. Furthermore, the company is developing other promising assets like PN-881 and PN-477, which could drive significant future value. These developments, coupled with the company’s strategic partnerships and robust pipeline, underpin Tsao’s confidence in the stock’s potential for growth.
According to TipRanks, Tsao is a 5-star analyst with an average return of 10.8% and a 44.96% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Argenx Se, Crinetics Pharmaceuticals, and Protagonist Therapeutics.
In another report released yesterday, Citizens JMP also maintained a Buy rating on the stock with a $69.00 price target.