H.C. Wainwright Starts Proteon Therapeutics (PRTO) at Buy

September 22, 2016 7:17 AM EDT
Get Alerts PRTO Hot Sheet
Price: $1.93 -1.03%

Rating Summary:
    4 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 22 | New: 54
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H.C. Wainwright initiated coverage on Proteon Therapeutics (NASDAQ: PRTO) with a Buy rating and a price target of $18. Analyst Swayampakula Ramakanth expects vonapanitase risk-adjusted revenues of $543 million by 2029.

"In our opinion, undoubtedly the most important milestone coming up for Proteon is the announcement offinal results from the Phase 3 PATENCY 1 study, which we expect in 4Q16, " said Ramakanth. "PATENCY-1 is a 300-patient study designed to compare treatment using 30 mcg of vonapanitase during AVF surgery with placebo. If vonapanitase is able to demonstrate a similar level of clinical benefit as in the Phase 2, we expect there is a high likelihood that it could achieve the primary endpoint of an improvement in 12-month primary unassisted patency. We believe positive results from PATENCY-1 could be a significant catalyst for Proteon’s stock price.”

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

Shares of Proteon Therapeutics closed at $8.75 yesterday.

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