H.C. Wainwright raised the firm’s price target on Protagonist Therapeutics to $38 from $33 and keeps a Buy rating on the shares. The company announced positive topline results from the randomized withdrawal portion of the REVIVE study for rusfertide in polycythemia vera that provide validation to the drug’s favorable safety profile, the analyst tells investors in a research note. To reflect increased confidence on rusfertide, the firm raised its probability of success to 55% from 50%.
Published first on TheFly
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