H.C. Wainwright Raises Protagonist Therapeutics, Inc. (PTGX) Target to $117, Reiterates Buy

Company Overview - Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was founded on August 22, 2006, and is headquartered in Newark, California. The company focuses on developing peptide-based therapies targeting rare diseases, hematology, and immunology [4]. Recent Developments - H.C. Wainwright raised its price target on Protagonist Therapeutics to $117 from $80, reiterating a Buy rating based on the company's drug development track record and probability-of-success assumptions across multiple programs, including PN-8047 and obesity assets [1]. - A company director sold 20,000 shares valued at approximately $1.7 million, an event that investors are monitoring alongside ongoing pipeline developments [3]. - Protagonist Therapeutics reported two potential late-stage assets, Icotrokinra and Rusfertide, with New Drug Applications (NDAs) submitted for plaque psoriasis and polycythemia vera expected in 2025 [3]. Pipeline and Partnerships - The company anticipates multiple Phase 2 and Phase 3 readouts across immunology, hematology, and obesity indications [3]. - Existing partnerships with Johnson & Johnson and Takeda include milestone and royalty structures that support non-dilutive funding [3].