Protagonist Therapeutics' Two Investigational Candidates Target Over $10B Market, Bullish Analyst Opines
Portfolio Pulse from Vandana Singh
Truist Securities initiated coverage on Protagonist Therapeutics (PTGX) with a Buy rating and a $60 price target, highlighting its promising investigational candidates rusfertide and JNJ-2113. These assets target a market exceeding $10 billion, with significant potential in blood cancer and psoriasis treatments. Partnerships with Takeda and Johnson & Johnson bolster PTGX's prospects.
September 10, 2024 | 5:17 pm
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POSITIVE IMPACT
Protagonist Therapeutics' JNJ-2113, partnered with Johnson & Johnson, shows promising results in psoriasis, offering a significant advantage as the only orally administered IL-23 inhibitor. This could expand market opportunities and lead to switching from other therapies.
JNJ-2113's unique position as the only oral IL-23 inhibitor offers Johnson & Johnson a competitive edge in the psoriasis market, potentially expanding its market share and leading to increased revenues.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Truist Securities initiated coverage on Protagonist Therapeutics with a Buy rating and a $60 price target. The company's lead assets, rusfertide and JNJ-2113, show promising results in blood cancer and psoriasis, targeting a $10B+ market. Partnerships with Takeda and J&J enhance its prospects.
The initiation of coverage with a Buy rating and a $60 price target by Truist Securities is a strong positive signal for PTGX. The promising clinical results of its lead assets and partnerships with major pharmaceutical companies like Takeda and J&J further enhance its market potential.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Protagonist Therapeutics' partnership with Takeda Pharmaceutical involves promising assets targeting a $10B+ market. This collaboration could enhance Takeda's portfolio in the blood cancer and inflammation sectors.
The partnership with Protagonist Therapeutics allows Takeda to potentially benefit from the promising clinical results of rusfertide and JNJ-2113, enhancing its offerings in the blood cancer and inflammation markets.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30