Prothena’s (PRTA) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report released on Friday morning,Benzinga reports. The firm currently has a $48.00 price objective on the biotechnology company’s stock, down from their previous price objective of $84.00.

Several other equities analysts have also recently weighed in on PRTA. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Chardan Capital initiated coverage on shares of Prothena in a research note on Friday. They set a “buy” rating and a $40.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Finally, Bank of America lowered their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.29.

Prothena Stock Down 4.9 %

Shares of PRTA opened at $15.22 on Friday. Prothena has a 52 week low of $11.70 and a 52 week high of $41.54. The stock has a market cap of $818.97 million, a P/E ratio of -6.14 and a beta of 0.09. The business’s 50 day moving average price is $15.69 and its 200-day moving average price is $19.07.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company’s revenue was down 98.9% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. On average, equities analysts anticipate that Prothena will post -2.24 EPS for the current year.

Institutional Trading of Prothena

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Signaturefd LLC boosted its stake in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 863 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prothena by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after buying an additional 4,026 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Prothena during the third quarter worth $210,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 1,186 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Prothena during the third quarter valued at $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.