Prothena’s (PRTA) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

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

Several other research firms have also recently commented on PRTA. Bank of America lowered their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Oppenheimer boosted their price target on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of Prothena in a report on Friday. Finally, Chardan Capital restated a “buy” rating and set a $40.00 price target on shares of Prothena in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Prothena currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Prothena Stock Performance

Shares of NASDAQ PRTA traded up $0.66 during trading on Friday, hitting $15.91. The company had a trading volume of 300,436 shares, compared to its average volume of 364,239. The company has a market cap of $856.06 million, a P/E ratio of -6.38 and a beta of 0.08. Prothena has a 52 week low of $11.70 and a 52 week high of $31.03. The business’s 50-day moving average is $14.28 and its 200 day moving average is $16.83.

Prothena (NASDAQ:PRTA) last announced its 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 net margin of 98.86% and a negative return on equity of 24.19%. The firm had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. On average, research analysts expect that Prothena will post -2.24 EPS for the current year.

Institutional Investors Weigh In On Prothena

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