Beamr video compression achieves up to 50% improvement for AVs
On Tuesday, H.C. Wainwright analysts reiterated their Buy rating for Protagonist Therapeutics stock (NASDAQ:PTGX), maintaining a price target of $80.00. Currently trading at $50.15, the stock has shown remarkable momentum with a 68% gain over the past year. This reaffirmation follows the presentation of full 32-week results from the Phase 3 VERIFY study of rusfertide in polycythemia vera (PV) at ASCO 2025. The results have bolstered confidence in the potential of rusfertide to become a standard of care in PV treatment.
During the conference, an independent PV specialist expressed enthusiasm about the VERIFY data and indicated plans to prescribe rusfertide to patients once approved. The specialist emphasized that rusfertide should become the standard of care in PV, noting its ability to address the significant unmet need in the field where 78% of patients remain uncontrolled between treatments. With a market capitalization of $3.1 billion and a "GREAT" financial health score according to InvestingPro, Protagonist appears well-positioned to capitalize on this opportunity.
The management of Protagonist Therapeutics highlighted rusfertide’s potential to reduce phlebotomy treatment by nearly three-fold and to allow 50% of patients to discontinue concurrent cytoreductive medication. This advancement could relieve patients from dose-dependent cytotoxicity and improve their quality of life by normalizing red blood cell production and iron redistribution.
The safety profile of rusfertide was a key point of discussion, with clinical experience from the REVIVE and VERIFY studies demonstrating favorable safety compared to other PV treatments. This has helped to alleviate previous concerns regarding the drug’s safety.
H.C. Wainwright continues to support Protagonist Therapeutics, citing the promising results and potential of rusfertide to significantly impact the treatment landscape for polycythemia vera. Analyst targets range from $41 to $82, reflecting strong confidence in the company’s prospects. For deeper insights into PTGX’s valuation and growth potential, including 17 additional ProTips and comprehensive financial analysis, visit InvestingPro.
In other recent news, Protagonist Therapeutics has been the focus of various analyst assessments and clinical developments. The company presented significant data at the American Society of Clinical Oncology (ASCO) conference, highlighting the efficacy of their drug rusfertide in treating polycythemia vera (PV). BTIG analysts maintained a Buy rating with an $82 price target, citing the drug’s consistent response benefits across different PV subgroups. JPMorgan also reaffirmed an Overweight rating with a $66 price target, emphasizing the potential of rusfertide to change the current treatment paradigm for PV.
Meanwhile, H.C. Wainwright maintained a Buy rating and an $80 price target following positive results from the ICONIC-LEAD study for icotrokinra, a treatment for moderate-to-severe plaque psoriasis. The study showed promising results, particularly in adolescent patients, and highlighted icotrokinra’s favorable safety profile. BTIG analysts echoed this sentiment, noting icotrokinra’s potential as a preferred oral treatment for psoriasis in adolescents. Additionally, Clear Street adjusted its price target for Protagonist Therapeutics to $62 from $65, maintaining a Buy rating but expressing concerns about the introduction of another expensive therapy into the standard care regimen for PV. These recent developments underscore the ongoing interest and analysis surrounding Protagonist Therapeutics and its drug candidates.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.