10 Best Healthcare Stocks For Long-Term Investment

8. Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Number of Hedge Fund Holders: 37 

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is a biopharmaceutical company specializing in peptide-based therapies for blood disorders and inflammatory diseases, including polycythemia vera and ulcerative colitis. The development of extremely effective and targeted medication options, such as rusfertide, a prospective treatment for polycythemia vera with encouraging clinical trial outcomes, is made possible by the company’s patented peptide platform.

Through strategic partnerships, including a global agreement with Takeda Pharmaceutical, Protagonist Therapeutics, Inc. (NASDAQ:PTGX) has obtained an upfront payment of $300 million and milestone payments of up to $630 million. Additionally, Johnson & Johnson and the company collaborate on JNJ-211, an oral IL-23 receptor antagonist.

As of September 30, 2024, the company’s cash, cash equivalents, and marketable securities totaled $583.3 million, up from $341.6 million at the end of 2023, demonstrating its strong financial condition. In the third quarter of 2024, Protagonist Therapeutics, Inc. (NASDAQ:PTGX) reported a net loss of $33.2 million, which was somewhat better than the quarterly loss of the previous year, and $4.7 million in license and cooperation revenue. But in the first nine months of 2024, a $300 million upfront payment from its partnership with Takeda Pharmaceutical resulted in a net profitability of $143.5 million, marking a sea change.

Strong growth potential is indicated by this collaboration and corporation’s growing pipeline. Phase 2b outcomes in ulcerative colitis by Q1 2025 and top-line results for JNJ-2113 Phase 3 trials in psoriasis by Q4 2024 are important future benchmarks. Early 2025 is also anticipated to see the nomination of a development candidate for an oral IL-17 peptide antagonist and the findings of rusfertide Phase 3 in polycythemia vera.