Protagonist Therapeutics (PTGX) Gets a Buy Rating from H.C. Wainwright
In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Protagonist Therapeutics (PTGX), with a price target of $36.00. The company’s shares closed last Wednesday at $29.10, close to its 52-week high of $32.10.
According to TipRanks.com, Tsao is a 5-star analyst with an average return of 15.1% and a 50.6% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Crinetics Pharmaceuticals, and Minerva Neurosciences.
Currently, the analyst consensus on Protagonist Therapeutics is a Moderate Buy with an average price target of $38.50.
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Based on Protagonist Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.65 million and GAAP net loss of $18.89 million. In comparison, last year the company earned revenue of $2.72 million and had a GAAP net loss of $17.5 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.