Prothena’s (PRTA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Prothena (NASDAQ:PRTA) in a research note released on Friday,Benzinga reports. They currently have a $48.00 price target on the biotechnology company’s stock, down from their prior price target of $84.00.

A number of other research analysts have also recently commented on PRTA. Chardan Capital assumed coverage on Prothena in a research note on Friday. They issued a “buy” rating and a $40.00 target price on the stock. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Bank of America dropped their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.29.

Prothena Trading Down 4.9 %

PRTA stock opened at $15.22 on Friday. The firm has a 50 day moving average of $15.69 and a 200-day moving average of $19.07. The firm has a market capitalization of $818.97 million, a P/E ratio of -6.14 and a beta of 0.09. Prothena has a 12 month low of $11.70 and a 12 month high of $41.54.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.22 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s revenue for the quarter was down 98.9% on a year-over-year basis. Sell-side analysts predict that Prothena will post -2.24 EPS for the current year.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in shares of Prothena by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock valued at $3,414,000 after acquiring an additional 19,578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Prothena by 13.1% in the second 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 in the last quarter. Signaturefd LLC grew its holdings in shares of Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 863 shares during the period. Focused Wealth Management Inc raised its position in shares of Prothena by 98.7% in the 2nd quarter. Focused Wealth Management Inc now owns 20,129 shares of the biotechnology company’s stock worth $415,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Prothena by 9.9% in the 2nd quarter. Rhumbline Advisers now owns 69,756 shares of the biotechnology company’s stock valued at $1,440,000 after purchasing an additional 6,256 shares during the period. Hedge funds and other 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.