Protagonist Therapeutics (PTGX) PT Raised to $34 at BMO Capital; Increased Confidence in PTG-100

November 15, 2016 8:55 AM EST
Get Alerts PTGX Hot Sheet
Price: $18.88 -0.47%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 22 | New: 54
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BMO Capital analyst M. Ian Somaiya reiterated an Outperform rating and raised his price target on Protagonist Therapeutics (NASDAQ: PTGX) to $34.00 (from $21.00) on increased confidence in PTG-10.

Somaiya commented, "We are raising our price target to $34 from $21 as we increase our probability of success for PTG-100 to 50% (from 33%) given recent presentations of PTG-100 data at UEGW, which, combined with our discussions with clinicians, suggest a higher probability of success in the upcoming Phase 2b and a larger market opportunity in UC. We believe PTGX's next key catalyst will be interim data from the Phase 2b trial (2Q/3Q17). We have updated our model based on 3Q results and maintain our Outperform rating."

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 $24.16 yesterday.

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