Prothena (NASDAQ:PRTA) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Prothena (NASDAQ:PRTA) from a hold rating to a sell rating in a report issued on Tuesday morning.

PRTA has been the subject of several other research reports. Royal Bank of Canada cut their target price 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. Bank of America reduced their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $84.00 target price on shares of Prothena in a report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Finally, Oppenheimer decreased their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Stock Performance

Shares of Prothena stock opened at $14.05 on Tuesday. The stock has a market capitalization of $756.03 million, a P/E ratio of -5.67 and a beta of 0.16. Prothena has a 52-week low of $13.22 and a 52-week high of $41.54. The stock’s 50-day simple moving average is $17.92 and its 200 day simple moving average is $20.20.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping 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 24.19%. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. During the same period last year, the firm earned $0.38 EPS. Prothena’s revenue for the quarter was down 98.9% on a year-over-year basis. Equities research analysts forecast that Prothena will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRTA. DCF Advisers LLC boosted its holdings in shares of Prothena by 0.5% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock worth $2,219,000 after purchasing an additional 500 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after buying an additional 739 shares during the last quarter. Signaturefd LLC boosted its stake in Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 863 shares in the last quarter. ProShare Advisors LLC grew its position in Prothena by 8.9% during the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 932 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 1,186 shares during the last quarter. 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.