Protagonist TherapeuticsNASDAQ: PTGX

Protagonist Therapeutics (PTGX) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

The consensus price target hints at a 48.4% upside potential for Protagonist Therapeutics (PTGX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Protagonist Therapeutics (PTGX) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Does Protagonist Therapeutics (PTGX) have what it takes to be a top stock pick for momentum investors? Let's find out.

Protagonist Therapeutics (PTGX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

The average of price targets set by Wall Street analysts indicates a potential upside of 37.2% in Protagonist Therapeutics (PTGX). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Protagonist Therapeutics (PTGX) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.

Per the deal, Protagonist (PTGX) will grant exclusive rights to Takeda to market its late-stage rare hematology drug. In return, Takeda will make an upfront payment of $300 million.

Protagonist Therapeutics is developing two parallel programs in different disease areas and has recovered in market valuation. The company will present important data on hematocrit control and iron deficiency in patients with polycythemia vera at the ASH meeting. PTGX is also developing JNJ-2113, an IL-23 receptor blocker, for autoimmune diseases, and has commenced clinical studies for plaque psoriasis and ulcerative colitis.