Royal Bank of Canada Has Lowered Expectations for Prothena (NASDAQ:PRTA) Stock Price

Prothena (NASDAQ:PRTA) had its target price lowered by investment analysts at Royal Bank of Canada from $24.00 to $20.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 28.53% from the company’s previous close.

PRTA has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target on shares of Prothena in a research report on Friday. Bank of America lowered their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Friday. Oppenheimer boosted their price target on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Prothena Stock Performance

Shares of Prothena stock opened at $15.56 on Friday. The business’s 50 day simple moving average is $14.33 and its 200 day simple moving average is $16.77. Prothena has a 52-week low of $11.70 and a 52-week high of $31.03. The firm has a market cap of $837.27 million, a PE ratio of -6.77 and a beta of 0.08.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The company had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. As a group, equities research analysts predict that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC boosted its stake in Prothena by 4.4% in the 3rd 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. Virtus ETF Advisers LLC boosted its stake in Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake 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 period. Rhumbline Advisers boosted its stake 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Prothena by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 1,551 shares during the period. 97.08% of the stock is currently owned by institutional investors.

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.