Prothena’s (PRTA) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $40.00 price objective on the biotechnology company’s stock.

A number of other analysts also recently weighed in on PRTA. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. Oppenheimer boosted their price objective on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America reduced their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.83.

Prothena Price Performance

Shares of PRTA stock opened at $15.56 on Friday. The company’s fifty day moving average price is $14.33 and its two-hundred day moving average price is $16.76. The firm has a market capitalization of $837.27 million, a P/E ratio of -6.77 and a beta of 0.08. Prothena has a 12 month low of $11.70 and a 12 month high of $31.03.

Prothena (NASDAQ:PRTA) last released its quarterly 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 business had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. On average, sell-side analysts anticipate that Prothena will post -4.04 EPS for the current year.

Hedge Funds Weigh In On Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTA. Virtus ETF Advisers LLC boosted its position in Prothena by 19.3% during 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. Headlands Technologies LLC lifted its stake in Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Prothena during the fourth quarter valued at $145,000. Purkiss Capital Advisors LLC bought a new position in shares of Prothena during the fourth quarter worth about $149,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 worth $158,000 after acquiring an additional 1,065 shares during the period. 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.