Analyst Boosts Protagonist Therapeutics Price Target, Says Psoriasis Data Impressive
Portfolio Pulse from Vandana Singh
JMP Securities has increased the price target for Protagonist Therapeutics Inc (PTGX) from $28 to $35, citing impressive psoriasis data from the Phase 2b FRONTIER 1 trial. The trial data supports JNJ-2113 as the most efficacious oral agent in development for psoriasis. However, the shares fell as the data fell short of injectables. The shares have not fully recovered, partly due to upcoming data from Ventyx Biosciences Inc’s (VTYX) oral TYK2 inhibitor VTX958.
July 06, 2023 | 7:48 pm
News sentiment analysis
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NEUTRAL IMPACT
Ventyx Biosciences' oral TYK2 inhibitor VTX958 is expected to release data in 4Q23, which some investors believe could take the pole position as the best oral in development.
The upcoming data release from Ventyx Biosciences' oral TYK2 inhibitor VTX958 could potentially impact the company's stock. However, the exact impact is uncertain until the data is released.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Protagonist Therapeutics' price target has been increased by JMP Securities due to impressive psoriasis data. However, the shares fell as the data fell short of injectables.
The increase in price target by JMP Securities indicates a positive outlook for PTGX. However, the shares fell as the data fell short of injectables, indicating a mixed market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100