Jefferies analyst Roger Song reiterated a Buy rating and $171.00 price target on Protagonist Therapeutics (NASDAQ: PTGX).

The analyst comments "We caught up with mgmt. Mimrylo label bodes well for rapid commercial adoption, supported by broad indication, 1st fatigue claim with Ph3 RCT data, clean safety, and SoC like monitoring. ~78% of treated PV pts are inadequately controlled, creating large opp'y. Takeda's $1-2B peak sales forecast predated strong Ph3 data and favorable label, suggesting conservatism. With two sig royalty streams, PTGX is well-funded for multiple high value oral peptide pipeline."

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Shares of Protagonist Therapeutics closed at $144.33 yesterday.