Prothena (NASDAQ:PRTA) Earns Buy Rating from HC Wainwright

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $48.00 price objective on the biotechnology company’s stock, down from their previous price objective of $84.00. HC Wainwright’s price target suggests a potential upside of 215.37% from the stock’s previous close.

Other research analysts have also issued reports about the company. Chardan Capital began coverage on Prothena in a research report on Friday. They set a “buy” rating and a $40.00 price target on the stock. Bank of America reduced their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Finally, StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Prothena currently has an average rating of “Moderate Buy” and an average target price of $52.29.

Prothena Price Performance

Shares of PRTA opened at $15.22 on Friday. The company has a 50-day moving average of $15.69 and a two-hundred day moving average of $19.10. The stock has a market cap of $818.97 million, a price-to-earnings ratio of -6.14 and a beta of 0.09. Prothena has a one year low of $11.70 and a one year high of $41.54.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping 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 quarter last year, the business posted $0.38 EPS. The company’s revenue was down 98.9% on a year-over-year basis. Analysts anticipate that Prothena will post -2.24 earnings per share for the current year.

Institutional Trading of Prothena

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Prothena by 14.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after purchasing an additional 539,359 shares during the last quarter. Armistice Capital LLC increased its position in Prothena by 42.3% during the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after buying an additional 464,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 valued at $8,812,000 after buying an additional 483,673 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Prothena by 25.8% during the 2nd quarter. Systematic Financial Management LP now owns 193,763 shares of the biotechnology company’s stock worth $3,999,000 after acquiring an additional 39,771 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Prothena by 13.4% during the 2nd 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 during the last quarter. 97.08% of the stock is currently 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.