Protagonist Therapeutics (PTGX) PT Lowered to $62 at Clear Street

Clear Street analyst Kaveri Pohlman lowered the price target on Protagonist Therapeutics (NASDAQ: PTGX) to $62.00 (from $65.00) while maintaining a Buy rating.

The analyst comments "The ASCO presentation generated significant enthusiasm for rusfertide's potential in Polycythemia Vera (PV) management—controlling phlebotomy needs, hematocrit levels, and reducing symptom burden. However, concerns emerged regarding the necessity of adding another costly therapy to standard of care. Below, we analyze both perspectives. Based on updated insights from management and our reassessment, we now anticipate PTGX will forgo co-commercialization with Takeda (contrary to our previous post-topline assumptions, detailed below), adjusting our price target to $62 from $65."

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