Prothena (NASDAQ:PRTA) Earns Buy Rating from HC Wainwright

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $48.00 target price on the biotechnology company’s stock, down from their previous target price of $84.00. HC Wainwright’s target price would suggest a potential upside of 199.81% from the company’s previous close.

Several other research firms also recently issued reports on PRTA. Chardan Capital started coverage on Prothena in a report on Friday. They set a “buy” rating and a $40.00 price objective on the stock. Bank of America decreased their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Prothena has a consensus rating of “Moderate Buy” and an average price target of $52.29.

Prothena Trading Up 34.0 %

NASDAQ:PRTA opened at $16.01 on Friday. The stock has a market capitalization of $861.48 million, a P/E ratio of -6.46 and a beta of 0.09. Prothena has a 1 year low of $11.70 and a 1 year high of $41.54. The firm has a 50 day moving average of $15.74 and a 200-day moving average of $19.17.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was down 98.9% on a year-over-year basis. As a group, analysts forecast that Prothena will post -2.24 EPS for the current fiscal year.

Institutional Trading of Prothena

Hedge funds have recently modified their holdings of the company. DCF Advisers LLC increased its stake in Prothena by 0.5% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock valued at $2,219,000 after purchasing an additional 500 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after buying an additional 739 shares during the period. Signaturefd LLC increased its position in shares of Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in Prothena by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after acquiring an additional 2,847 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.