** Shares of Protagonist Therapeutics PTGX.O up 10.3% premarket to $35.16, a 2-week high, as co set to join S&P SmallCap 600 index .SPCY week
** Biotech firm to replace Encore Wire WIRE.O in SPCY prior to market open Weds, Jul 3, according to S&P Dow Jones Indices
** Encore being acquired by Italian cablemaker Prysmian PRY.MI in $4.2 bln deal
** PTGX's lead product candidates are rusfertide, for treatment of a rare blood disease, and psoriasis drug, JNJ-2113, which it's developing in collaboration with Johnson & Johnson JNJ.N
** Through Thurs close, PTGX shares up 39% YTD giving co ~$1.9 bln market cap, per LSEG
** All 6 analysts covering the stock are bullish, including 2 "strong buy" ratings; median PT is $45 - LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))