Prothena’s (PRTA) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Prothena (NASDAQ:PRTA) in a research note published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $28.00 price objective on the biotechnology company’s stock.

PRTA has been the subject of several other research reports. HC Wainwright decreased their price objective on Prothena from $90.00 to $84.00 and set a buy rating for the company in a research note on Thursday, May 9th. Cantor Fitzgerald reissued an overweight rating on shares of Prothena in a research report on Wednesday, April 10th. Finally, JMP Securities cut their target price on Prothena from $85.00 to $83.00 and set a market outperform rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Prothena currently has a consensus rating of Moderate Buy and an average target price of $66.00.

Prothena Stock Performance

Shares of PRTA opened at $20.64 on Wednesday. The stock has a 50-day simple moving average of $21.20 and a 200-day simple moving average of $26.84. The stock has a market capitalization of $1.11 billion, a PE ratio of -6.35 and a beta of 0.24. Prothena has a 1 year low of $18.69 and a 1 year high of $73.14.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $3.75 million. Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. During the same quarter in the previous year, the business posted ($0.89) EPS. Analysts predict that Prothena will post -4.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boxer Capital LLC increased its position in Prothena by 6.4% during the fourth quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock worth $24,166,000 after buying an additional 40,000 shares during the period. SG Americas Securities LLC increased its position in Prothena by 46.9% during the fourth quarter. SG Americas Securities LLC now owns 135,857 shares of the biotechnology company’s stock worth $4,937,000 after buying an additional 43,363 shares during the period. Trexquant Investment LP acquired a new position in Prothena during the third quarter worth approximately $2,743,000. Price T Rowe Associates Inc. MD increased its position in Prothena by 10.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after buying an additional 417,338 shares during the period. Finally, Armistice Capital LLC acquired a new position in Prothena during the fourth quarter worth approximately $10,103,000. Institutional investors and hedge funds 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.