Why Protagonist Therapeutics Stock Skyrocketed by Almost 30% Today

Clinical-stage biotech Protagonist Therapeutics (NASDAQ: PTGX) was all the rage on the stock market Friday. The company's share price closed a dizzying 29.8% higher on the day, thanks to intense takeover speculation. That leap was particularly notable considering it was quite a downbeat day for stocks overall, with the S&P 500 (SNPINDEX: ^GSPC) sliding by almost 3%.That speculation was fired that morning by The Wall Street Journal, which reported healthcare giant Johnson & Johnson was in discussions to acquire Protagonist. Although it gleaned this from unidentified "people familiar with the matter," the financial newspaper had few details to report about the apparent negotiations. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool