BMO Capital Starts Protagonist Therapeutics (PTGX) at Outperform

September 6, 2016 6:37 AM EDT
Get Alerts PTGX Hot Sheet
Price: $22.10 +0.50%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BMO Capital initiates coverage on Protagonist Therapeutics (NASDAQ: PTGX) with a Outperform rating and a price target of $21.00.

Analyst M. Ian Somaiya commented, "Our Outperform rating is based on our belief that Protagonist's lead asset, PTG-100, has been clinically and commercially de-risked given Takeda's Entyvio's success, which shares the same biological target. Our $2.3bn unadjusted peak sales estimate assumes the upcoming Phase 2b (data 1Q18) shows efficacy at least on par with Entyvio, with a cleaner safety profile given its GI-restricted delivery. We do not model any contribution from PTGX's pipeline (PTG-200/300). We believe PTGX's novel peptide platform, which optimizes identified therapeutic peptides for potency and stability, provides multiple opportunities for upside."

For an analyst ratings summary and ratings history on Protagonist Therapeutics click here. For more ratings news on Protagonist Therapeutics click here.

Shares of Protagonist Therapeutics closed at $12.08 yesterday.

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