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On Friday, Protagonist Therapeutics (NASDAQ:PTGX) received a reaffirmation of its Buy rating and an $82.00 price target from BTIG, with the stock currently trading at $40.89. The strong analyst consensus, as reported by InvestingPro, shows broad support for the company with a 1.6 rating (1.0 being the strongest Buy). The firm's analysis highlighted the potential of Protagonist's drug candidate icotrokinra in the psoriasis market. According to BTIG, recent data presented at the 2025 World Congress of Pediatric Dermatology (WCPD) Annual Meeting shows that icotrokinra could become a preferred oral treatment option for psoriasis (PsO) in adolescents.
The subgroup analysis data from the ICONIC-LEAD study of patients aged 12 years and older demonstrated that icotrokinra achieved a 56.8% and 56.9% placebo-adjusted improvement on IGA 0/1 and PASI90 scores, respectively, at 16 weeks. These results were favorably compared to Otezla, which showed 22.3% and 20.3% improvement on similar metrics at 16 weeks in a younger patient group, and were in line with subcutaneous ustekinumab (Stelara), which demonstrated 64.0% and 55.7% improvement at 12 weeks in a comparable adolescent cohort.
The safety profile of icotrokinra was noted to be consistently well-tolerated among adolescents, with fewer patients experiencing at least one adverse event compared to placebo, and no new safety signals observed. The significance of these findings is underscored by the fact that an estimated one-third of all psoriasis patients develop the condition before turning 18 years old. InvestingPro data reveals the company maintains an EXCELLENT financial health score of 3.96, suggesting strong operational stability during this crucial development phase. Subscribers can access 12 additional ProTips and comprehensive financial metrics for deeper analysis. Current market leaders in the psoriasis treatment space, such as Skyrizi, Tremfya, and Sotyktu, do not have approval for use in patients under 18, which highlights the potential market opportunity for icotrokinra.
Protagonist Therapeutics' focus on this younger demographic could position icotrokinra to complement the existing treatments for psoriasis, rather than disrupt the market. The company's strong financial position is evident in its impressive current ratio of 12.48 and remarkable revenue growth of 624% over the last twelve months. The positive data from the adolescent subgroup analysis suggests a strong case for icotrokinra's efficacy and safety in a patient population that is currently underserved by available therapies. BTIG's continued support for Protagonist Therapeutics reflects confidence in the drug's market potential and its ability to address a significant unmet medical need. For comprehensive analysis of PTGX and 1,400+ other stocks, including detailed Fair Value assessments and expert insights, visit InvestingPro.
In other recent news, Protagonist Therapeutics has received attention from several analysts following promising clinical trial results. BMO Capital Markets has revised its price target for the company to $72, up from $62, maintaining an Outperform rating. This decision was influenced by positive data from treatments for plaque psoriasis and ulcerative colitis. Jefferies has also maintained a Buy rating with a $68 target, citing the successful meeting of primary and secondary endpoints in ulcerative colitis trials for the drug Icotrokinra. Meanwhile, Truist Securities increased its price target to $76 from $60, following positive Phase 2b results for rusfertide, leading to higher projected sales. H.C. Wainwright continues to support a Buy rating with a $54 target, highlighting strong data from psoriasis therapy trials. Additionally, BTIG reiterated a Buy rating with a $73 target, expecting significant volume growth in the coming years. These developments reflect a growing confidence among analysts in Protagonist Therapeutics' future prospects.
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