Prothena’s (PRTA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Prothena (NASDAQ:PRTA) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $84.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Prothena’s FY2028 earnings at $3.34 EPS.

A number of other research analysts have also commented on the company. Royal Bank of Canada lowered their price target on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Oppenheimer dropped their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Bank of America reduced their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Prothena currently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Prothena Stock Down 13.0 %

Shares of NASDAQ PRTA opened at $14.01 on Wednesday. The firm’s fifty day moving average is $18.19 and its 200 day moving average is $20.34. Prothena has a 52 week low of $14.00 and a 52 week high of $41.54.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The company’s revenue for the quarter was down 98.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. Equities research analysts expect that Prothena will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRTA. Susquehanna Fundamental Investments LLC purchased a new stake in Prothena in the first quarter worth about $342,000. Headlands Technologies LLC purchased a new stake in shares of Prothena in the 1st quarter worth approximately $96,000. ProShare Advisors LLC increased its position in Prothena by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 932 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Prothena by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock worth $27,873,000 after acquiring an additional 54,728 shares in the last quarter. Finally, Artal Group S.A. grew its stake in shares of Prothena by 99.7% in the first quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after acquiring an additional 500,000 shares during the last quarter. 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.