H.C. Wainwright analyst Swayampakula Ramakanth raised his price target for Proteon Therapeutics to $4 from $3 ahead of the topline results from the Phase 3 Patency-2 study of vonapanitase to extend fistula patency for hemodialysis in patients with chronic kidney disease, which he expects before the end of March. If the study is able to successfully hit both endpoints, it would serve as the basis for a potential regulatory submission before the end of 2019 and commercial launch of vonapanitase by Q3 of 2020, Ramakanth tells investors in a research note. He thinks positive results could drive 50% upside in Proteon shares and keeps a Buy rating on the name.