Prothena (NASDAQ:PRTA) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Prothena (NASDAQ:PRTA) from a sell rating to a hold rating in a report published on Monday morning.

Several other equities analysts also recently commented on the stock. Chardan Capital restated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research note on Friday. Royal Bank of Canada decreased their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of Prothena in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Friday. Finally, Oppenheimer upped their price target on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.83.

Prothena Trading Down 2.1 %

NASDAQ PRTA opened at $15.23 on Monday. The firm’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $16.73. Prothena has a 1 year low of $11.70 and a 1 year high of $31.03. The firm has a market capitalization of $819.51 million, a P/E ratio of -6.62 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 (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 firm had revenue of $2.12 million for the quarter, compared to the consensus estimate of $7.53 million. On average, research analysts anticipate that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently bought and sold shares of PRTA. Creative Planning acquired a new stake in Prothena during the third quarter worth about $350,000. China Universal Asset Management Co. Ltd. grew its stake in Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after buying an additional 4,026 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Prothena by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after buying an additional 2,847 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Prothena in the third quarter worth about $484,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Prothena by 8.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after acquiring an additional 9,666 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

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.