BMO Capital analyst Etzer Darout initiates coverage on $Protagonist Therapeutics (PTGX.US)$ with a buy rating, and sets the target price at $62.
According to TipRanks data, the analyst has a success rate of 59.6% and a total average return of 37.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Protagonist Therapeutics (PTGX.US)$'s main analysts recently are as follows:
Protagonist Therapeutics' Phase 3 assets are considered to have commercial potential, although they have been licensed which offers 'limited' financial and M&A upside. The substantial over 400% increase in the company's stock price over the past two years can be attributed to development progression and licensing deals, suggesting that the current price already accounts for the anticipated benefits from these assets.
Protagonist Therapeutics is capitalizing on its peptide technology platform to tackle disorders in hematology and immunology. The company's stock is projected to gain in value following significant clinical advancements over the coming year, bolstered by key developments with rusfertide and JNJ-2113. Additionally, Protagonist is poised to offer oral medication alternatives in highly lucrative markets predominantly occupied by injectable therapies.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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