Truist Securities analyst Srikripa Devarakonda reiterated a Buy rating and $110.00 price target on Protagonist Therapeutics (NASDAQ: PTGX)

The analyst commented, "This morning, Protagonist (PTGX, Buy) and Johnson & Johnson (JNJ, NR) reported FDA approval of Icotyde (icotrokinra) in 12+ year old moderate to severe plaque psoriasis (PsO), marking Protagonist's official transition to a commercial company. We see strong differentiation as the first oral therapy with biologic-like efficacy in a TAM with ~8M patients, as per JNJ. We model $730M peak revenue to PTGX in royalties vs $560M consensus and note partner JNJ (JNJ, NR) estimates ico to present a ~$5-10B market opportunity. With priority review for rusfertide (launch expected 2H26), we think this sets PTGX up to continue to deliver pipeline progress with strong cash position. Reiterate Buy."

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 $97.23 yesterday.