Prothena (NASDAQ:PRTA) Price Target Raised to $62.00

Prothena (NASDAQ:PRTA) had its price target boosted by Oppenheimer from $58.00 to $62.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

PRTA has been the subject of a number of other reports. Bank of America lowered their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and set a $48.00 price objective (down from $84.00) on shares of Prothena in a report on Friday, December 20th. Chardan Capital assumed coverage on shares of Prothena in a report on Friday, December 20th. They set a “buy” rating and a $40.00 price objective for the company. Finally, StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Prothena Trading Down 2.7 %

PRTA opened at $14.05 on Friday. The company has a fifty day simple moving average of $14.28 and a 200 day simple moving average of $17.31. The firm has a market cap of $756.02 million, a price-to-earnings ratio of -5.67 and a beta of 0.08. Prothena has a twelve month low of $11.70 and a twelve month high of $31.03.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results 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 net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue was down 98.9% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, analysts forecast that Prothena will post -2.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Orion Portfolio Solutions LLC lifted its position in shares of 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. China Universal Asset Management Co. Ltd. lifted its position in Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares during the last quarter. Rhumbline Advisers lifted its position in Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prothena by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,151 shares of the biotechnology company’s stock valued at $4,531,000 after purchasing an additional 2,189 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Prothena by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after purchasing an additional 2,847 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.

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.