Prothena (NASDAQ:PRTA) Given “Buy” Rating at HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of Prothena (NASDAQ:PRTA – Free Report) in a report published on Friday,Benzinga reports. They currently have a $48.00 price target on the biotechnology company’s stock, down from their previous price target of $84.00.

Other equities analysts also recently issued reports about the company. Bank of America lowered their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Chardan Capital started coverage on Prothena in a report on Friday. They set a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.29.

Read Our Latest Analysis on Prothena

Prothena Trading Down 4.9 %

Shares of PRTA opened at $15.22 on Friday. The firm’s fifty day simple moving average is $15.73 and its 200-day simple moving average is $19.14. The firm has a market capitalization of $818.97 million, a price-to-earnings ratio of -6.14 and a beta of 0.09. Prothena has a twelve month low of $11.70 and a twelve month high of $41.54.

Prothena (NASDAQ:PRTA – Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. During the same period in the previous year, the business earned $0.38 EPS. Prothena’s revenue for the quarter was down 98.9% on a year-over-year basis. On average, analysts predict that Prothena will post -2.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Prothena by 14.8% during the third quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after buying an additional 539,359 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prothena by 1,122.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after acquiring an additional 483,673 shares during the period. Armistice Capital LLC grew its stake in shares of Prothena by 42.3% in the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after purchasing an additional 464,000 shares during the last quarter. Barclays PLC increased its holdings in shares of Prothena by 110.2% in the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 49,916 shares during the period. Finally, Duncan Williams Asset Management LLC purchased a new stake in shares of Prothena during the third quarter worth approximately $816,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.

About Prothena

(Get Free Report)

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.

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