Prothena (NASDAQ:PRTA) Research Coverage Started at Chardan Capital

Chardan Capital began coverage on shares of Prothena (NASDAQ:PRTA) in a report released on Friday morning, MarketBeat reports. The firm issued a buy rating and a $40.00 target price on the biotechnology company’s stock.

A number of other analysts also recently issued reports on PRTA. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $84.00 target price on shares of Prothena in a research note on Wednesday, November 13th. Bank of America cut their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Prothena presently has an average rating of “Moderate Buy” and an average price target of $52.29.

Prothena Price Performance

NASDAQ:PRTA opened at $15.22 on Friday. The company’s fifty day moving average price is $15.69 and its 200-day moving average price is $19.07. Prothena has a 1-year low of $11.70 and a 1-year high of $41.54. The firm has a market capitalization of $818.97 million, a P/E ratio of -6.14 and a beta of 0.09.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company’s revenue was down 98.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Equities analysts anticipate that Prothena will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Prothena by 110.2% in the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 49,916 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares during the period. XTX Topco Ltd acquired a new stake in Prothena during the third quarter worth about $260,000. Wellington Management Group LLP raised its stake in Prothena by 14.8% during the third 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 period. Finally, PDT Partners LLC boosted its holdings in Prothena by 7.7% in the 3rd quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock valued at $1,851,000 after purchasing an additional 7,946 shares during the last quarter. Institutional investors and hedge funds 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.