BMO Capital Starts Protagonist Therapeutics (PTGX) at Outperform
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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."
Shares of Protagonist Therapeutics closed at $12.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baird Starts Reata Pharmaceuticals (RETA) at Outperform
- Sanchez Energy (SN) PT Raised to $16 at FBR Capital; Reiterates Outperform
- RBC Capital Starts Sysco (SYY) at Sector Perform
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesBMO Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!