HC Wainwright Reiterates “Buy” Rating for Prothena (NASDAQ:PRTA)

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $48.00 target price on the biotechnology company’s stock, down from their prior target price of $84.00. HC Wainwright’s price target points to a potential upside of 199.81% from the stock’s current price.

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

Prothena Trading Up 34.0 %

PRTA stock opened at $16.01 on Friday. The firm has a market cap of $861.48 million, a PE ratio of -6.46 and a beta of 0.09. Prothena has a 1 year low of $11.70 and a 1 year high of $41.54. The company has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $19.17.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.38 EPS. The firm’s revenue was down 98.9% on a year-over-year basis. As a group, analysts forecast that Prothena will post -2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 863 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 4,026 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Prothena in the 3rd quarter valued at approximately $210,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Prothena during the 3rd quarter worth approximately $260,000. Institutional investors own 97.08% of the company’s stock.

About Prothena

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.