H.C. Wainwright Believes Protagonist Therapeutics (PTGX) Still Has Room to Grow
H.C. Wainwright analyst Douglas Tsao maintained a Buy rating on Protagonist Therapeutics (PTGX) on October 30 and set a price target of $33.00. The company’s shares closed last Thursday at $23.05, close to its 52-week high of $23.25.
According to TipRanks.com, Tsao is a 5-star analyst with an average return of 13.0% and a 53.5% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals, Minerva Neurosciences, and Theravance Biopharma.
Protagonist Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $35.00.
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Based on Protagonist Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.22 million and GAAP net loss of $19.42 million. In comparison, last year the company had a GAAP net loss of $29.17 million.
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Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the research and development of novel constrained peptide-based drug candidates that address significant unmet medical needs. The firm’s initial lead product candidates, PTG-100 and PTG-200, are being developed for moderate-to-severe ulcerative colitis and Crohn’s disease, respectively. The company was founded by Mark L. Smythe on August 22, 2006 and is headquartered in Newark, CA.