Goldman Sachs raised the firm’s price target on Protagonist Therapeutics (PTGX) to $65 from $47 and keeps a Neutral rating on the shares. Protagonist reported Q3 results with GAAP EPS of (62c), supported by $678.8M in cash expected to fund operations through year end 2028 without additional capital raises, the analyst tells investors in a research note. Despite a 20% stock lift following a Wall Street Journal report on potential Johnson & Johnson (JNJ) interest, the current price appears disconnected from fundamentals, and remaining unpartnered assets remain early-stage, the firm adds.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTGX:
- Protagonist Therapeutics price target raised to $98 from $96 at Citi
- Protagonist Therapeutics price target raised to $81 from $68 at JPMorgan
- Protagonist Therapeutics price target raised to $88 from $72 at Barclays
- Protagonist Therapeutics price target raised to $102 from $69 at Citizens JMP
- Protagonist Therapeutics price target raised to $91 from $74 at Clear Street