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.
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