Protagonist Therapeutics jumps on S&P SmallCap addition

Protagonist Therapeutics

28/06/2024 12:41

** Shares of Protagonist Therapeutics  PTGX.O  up 10.3%
premarket to $35.16, a 2-week high, as co set to join S&P
SmallCap 600 index  .SPCY  next week
    ** Biotech firm to replace Encore Wire  WIRE.O  in SPCY
prior to market open Weds, Jul 3, according to S&P Dow Jones
Indices
    ** Encore being acquired by Italian cablemaker Prysmian
 PRY.MI  in $4.2 bln deal
    ** PTGX's lead product candidates are rusfertide, for
treatment of a rare blood disease, and psoriasis drug, JNJ-2113,
which it's developing in collaboration with Johnson & Johnson
 JNJ.N 
    ** Through Thurs close, PTGX shares up 39% YTD giving co
~$1.9 bln market cap, per LSEG
    ** All 6 analysts covering the stock are bullish, including
2 "strong buy" ratings; median PT is $45 - LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))