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

HC Wainwright reaffirmed their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $84.00 target price on the biotechnology company’s stock.

A number of other analysts have also weighed in on the stock. Bank of America decreased their target price on shares of Prothena from $33.00 to $31.00 and set a neutral rating on the stock in a report on Tuesday. Cantor Fitzgerald reiterated an overweight rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com raised Prothena from a sell rating to a hold rating in a research note on Monday, August 12th. Royal Bank of Canada decreased their target price on Prothena from $28.00 to $24.00 and set a sector perform rating on the stock in a research note on Friday, August 9th. Finally, Oppenheimer dropped their price target on Prothena from $66.00 to $62.00 and set an outperform rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $61.86.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $16.86 on Tuesday. Prothena has a fifty-two week low of $15.52 and a fifty-two week high of $55.89. The stock has a market cap of $906.60 million, a PE ratio of -5.19 and a beta of 0.17. The stock has a fifty day moving average of $20.91 and a 200-day moving average of $21.69.

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

Hedge Funds Weigh In On Prothena

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Boxer Capital LLC raised its holdings in shares of Prothena by 6.4% during the 4th quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock valued at $24,166,000 after buying an additional 40,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Prothena by 5.1% during 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. Armistice Capital LLC lifted its holdings 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 worth $32,198,000 after acquiring an additional 464,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Prothena by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock valued at $1,126,000 after purchasing an additional 37,852 shares during the last quarter. 97.08% of the stock is currently owned by hedge funds and other 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.