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Protagenic Therapeutics (PTIX) Initiated with a Buy at Maxim Group

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In a report released yesterday, Jason McCarthy from Maxim Group initiated coverage with a Buy rating on Protagenic Therapeutics (PTIXResearch Report) and a price target of $4.00. The company’s shares closed last Monday at $1.76, close to its 52-week low of $1.55.

According to TipRanks.com, McCarthy has 0 stars on 0-5 stars ranking scale with an average return of -3.4% and a 26.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Reviva Pharmaceuticals Holdings, and Brainstorm Cell Therapeutics.

Protagenic Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $4.00.

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Protagenic Therapeutics’ market cap is currently $29.84M and has a P/E ratio of -5.80. The company has a Price to Book ratio of 3.04.

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Protagenic Therapeutics Inc is a biopharmaceutical company focused on the discovery and development of therapeutics to treat stress-related neuropsychiatric and mood disorders. It provides treatments for mood, anxiety, depression and neurodegenerative disorders by using peptide-based and brain active therapeutics. The company’s lead compound, PT00114, is a synthetic form of Teneurin Carboxy-terminal Associated Peptide, an endogenous brain signaling peptide that can dampen overactive stress responses. It has also created a portfolio of novel neuropeptides that are in various stages of development and preclinical evaluation for the treatment of mood disorders.

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