UBS Starts Coverage of Three Biotech Firms With Buy Ratings
UBS began coverage of Protagonist Therapeutics, Spyre Therapeutics and Kardigan with Buy ratings and price targets ranging from $25 to $184 per share.
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what happened
Dow Jones Newswires, citing data from Benzinga, reported that UBS initiated coverage of Protagonist Therapeutics (PTGX), Spyre Therapeutics (SYRE) and Kardigan (KARD) on October 12, 2026, assigning each stock a Buy rating.
UBS set a price target of $184.00 per share for Protagonist Therapeutics at 13:57 GMT. The target for Spyre Therapeutics was announced at $120.00 per share at 13:48 GMT, while Kardigan received a $25.00 target at 13:58 GMT. The information appeared in Benzinga’s analyst-ratings section.
why it matters
New brokerage coverage and price targets can increase market attention to the three biotechnology stocks. Trading responses may depend on how investors compare UBS’s assessments with existing expectations and other analyst views.
instruments
sources
- Protagonist Therapeutics Initiated at Buy by UBS — Dow Jones Newswires, 12 October 2026 at 13:57 UTC
- Spyre Therapeutics Initiated at Buy by UBS — Dow Jones Newswires, 12 October 2026 at 13:48 UTC
- Kardigan Initiated at Buy by UBS — Dow Jones Newswires, 12 October 2026 at 13:58 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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