Cantor Fitzgerald Reaffirms “Overweight” Rating for Prothena (NASDAQ:PRTA)

Prothena (NASDAQ:PRTA)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued on Friday,Benzinga reports.

PRTA has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of Prothena in a research note on Friday. Bank of America decreased 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, December 19th. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Oppenheimer boosted their price target on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Chardan Capital restated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.83.

Prothena Trading Up 2.0 %

Prothena stock opened at $15.56 on Friday. The business’s fifty day simple moving average is $14.33 and its two-hundred day simple moving average is $16.77. Prothena has a 12 month low of $11.70 and a 12 month high of $31.03. The company has a market capitalization of $837.27 million, a price-to-earnings ratio of -6.77 and a beta of 0.08.

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

Institutional Trading of Prothena

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Prothena by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock valued at $71,063,000 after acquiring an additional 952,088 shares during the last quarter. Vanguard Group Inc. increased its position in Prothena by 11.5% in the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company’s stock worth $19,443,000 after buying an additional 144,737 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Prothena by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company’s stock worth $11,980,000 after buying an additional 10,783 shares in the last quarter. Federated Hermes Inc. increased its position in Prothena by 84.3% in the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock worth $10,335,000 after buying an additional 341,274 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new stake in Prothena in the fourth quarter worth about $9,556,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.