Movement Alert｜Protagonist Therapeutics Rises 6.35% in Regular Trading, Truist Raises Price Target to $145

Market Focus07-08 02:11

On July 7, Protagonist Therapeutics rose 6.35% in regular trading, trading at $139.975/share, with turnover of $117 million. The rally was driven by investment bank Truist significantly raising its price target on the stock from $121 to $145, while maintaining a Buy rating.

The nearly 20% target price increase is notably above the current analyst consensus. According to FactSet, the average analyst rating on Protagonist Therapeutics is Buy, with a mean price target of $119.15 — well below Truist's updated $145 target. This marks Truist's second target price raise in recent months, having previously lifted its target from $110 to $121 in April. The widening gap between Truist's outlook and the broader Street consensus may serve as a near-term positive catalyst for the stock.

Protagonist Therapeutics is a biopharmaceutical company developing peptide-based drugs for hematology, blood disorders, and inflammatory diseases. Its lead asset Rusfertide, an injectable hepcidin mimetic for polycythemia vera, is partnered with Takeda for commercialization.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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