Prothena (NASDAQ:PRTA) Earns “Buy” Rating from Chardan Capital

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a research report issued on Friday,Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 157.07% from the stock’s current price.

PRTA has been the topic of a number of other reports. Oppenheimer lifted their price objective on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America decreased their price objective on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective (down from $84.00) on shares of Prothena in a research note on Friday, December 20th. Finally, StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.83.

Prothena Trading Up 2.0 %

NASDAQ PRTA opened at $15.56 on Friday. Prothena has a 1-year low of $11.70 and a 1-year high of $31.03. The company has a 50 day moving average of $14.33 and a 200-day moving average of $16.77. The company has a market cap of $837.27 million, a price-to-earnings ratio of -6.77 and a beta of 0.08.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. On average, equities research analysts forecast that Prothena will post -4.04 earnings per share for the current year.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 49,916 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after buying an additional 23,525 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Prothena by 1,122.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after purchasing an additional 483,673 shares during the period. Duncan Williams Asset Management LLC lifted its holdings in shares of Prothena by 41.9% during the fourth quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after purchasing an additional 20,450 shares during the period. Finally, Focused Wealth Management Inc acquired a new position in shares of Prothena during the fourth quarter worth $445,000. Institutional investors own 97.08% of the company’s stock.

About Prothena

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.