HC Wainwright Reaffirms “Buy” Rating for Prothena (NASDAQ:PRTA)

HC Wainwright reissued their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $84.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on PRTA. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Royal Bank of Canada cut their price objective on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Bank of America lowered their target price on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, Oppenheimer lowered their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Trading Down 0.7 %

PRTA stock opened at $17.23 on Wednesday. The firm has a 50-day moving average of $18.41 and a two-hundred day moving average of $20.41. The firm has a market capitalization of $926.63 million, a PE ratio of -6.95 and a beta of 0.16. Prothena has a one year low of $15.30 and a one year high of $41.54.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.03%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was down 98.9% on a year-over-year basis. On average, equities research analysts anticipate that Prothena will post -2.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DCF Advisers LLC grew its holdings in Prothena by 0.5% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock valued at $2,219,000 after buying an additional 500 shares in the last quarter. Signaturefd LLC grew its holdings in 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. ProShare Advisors LLC grew its holdings in Prothena by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 932 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 1,186 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Prothena by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after acquiring an additional 2,847 shares during the period. 97.08% of the stock is 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.