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

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $84.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 403.60% from the company’s current price.

Several other brokerages have also commented on PRTA. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday. Oppenheimer cut their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Bank of America lowered their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Prothena Trading Up 0.2 %

NASDAQ PRTA opened at $16.68 on Tuesday. Prothena has a 12 month low of $15.52 and a 12 month high of $55.89. The company’s 50-day moving average price is $21.21 and its 200-day moving average price is $21.76. The stock has a market cap of $897.05 million, a PE ratio of -5.13 and a beta of 0.18.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The business had revenue of $132.01 million for the quarter, compared to the consensus estimate of $10.73 million. During the same period in the prior year, the firm earned ($1.03) EPS. The company’s revenue for the quarter was up 3184.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Prothena will post -2.31 earnings per share for the current year.

Institutional Trading of Prothena

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Artal Group S.A. grew its stake in Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after buying an additional 500,000 shares during the last quarter. Armistice Capital LLC grew its stake in shares of Prothena by 42.3% during the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after acquiring an additional 464,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Prothena by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock valued at $94,270,000 after acquiring an additional 452,455 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Prothena by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock valued at $153,986,000 after purchasing an additional 417,338 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its stake in Prothena by 19.9% in the 4th quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock worth $15,159,000 after purchasing an additional 69,092 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.