Protagonist Therapeutics price target raised to $74 from $62 at Clear Street

Clear Street raised the firm’s price target on Protagonist Therapeutics (PTGX) to $74 from $62 and keeps a Buy rating on the shares. The price target hike follows the full data release from the Phase 2b Anthem-ulcerative colitis trial, and initiation of Phase 3 UC and Phase 3 UC and Phase 2/3 Crohn’s disease trials by Johnson & Johnson (JNJ), the analyst tells investors in a research note. The firm added that the Phase 2b data bode well for combination treatments, and that Icotrokinra could make waves in mild-to-moderate disease.