TD Cowen analyst Tara Bancroft initiated coverage of Protagonist Therapeutics with a Buy rating and $65 price target. The firm says the company’s rusfertide has at least $3B of sales potential in polycythemia vera, with $1B going to Protagonist, and JNJ-2113 can address the 5M plaque psoriasis and ulcerative colitis patients seeking an oral option. Protagonist’s pipeline should also generate future value for years to come, the analyst tells investors in a research note.
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