Prothena (NASDAQ:PRTA) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Prothena (NASDAQ:PRTA) in a report published on Monday morning, Benzinga reports.

PRTA has been the topic of several other research reports. Oppenheimer dropped their target price on shares of Prothena from $66.00 to $62.00 and set an outperform rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada cut their price target on Prothena from $28.00 to $24.00 and set a sector perform rating for the company in a research note on Friday, August 9th. Finally, StockNews.com upgraded Prothena from a sell rating to a hold rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Prothena currently has an average rating of Moderate Buy and an average price target of $61.86.

Prothena Stock Up 0.2 %

Shares of PRTA opened at $16.68 on Monday. Prothena has a twelve month low of $15.52 and a twelve month high of $55.89. The company has a market capitalization of $897.05 million, a P/E ratio of -5.13 and a beta of 0.18. The firm has a 50 day moving average of $21.21 and a 200 day moving average of $21.76.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $2.23. The firm had revenue of $132.01 million during the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The company’s revenue was up 3184.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.03) earnings per share. On average, sell-side analysts expect that Prothena will post -2.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRTA. Boxer Capital LLC increased its stake in shares of Prothena by 6.4% during the fourth quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock valued at $24,166,000 after buying an additional 40,000 shares during the period. Vanguard Group Inc. increased its position in Prothena by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after purchasing an additional 54,728 shares during the period. Armistice Capital LLC raised its holdings in shares of Prothena by 42.3% in the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after purchasing an additional 464,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Prothena by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after purchasing an additional 417,338 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Prothena by 226.4% during the second quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock valued at $1,126,000 after buying an additional 37,852 shares during the period. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

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.