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 Wednesday morning,Benzinga reports. The firm currently has a $84.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Prothena’s FY2028 earnings at $3.34 EPS.

Several other analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Oppenheimer reduced their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Bank of America lowered their price target on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, Royal Bank of Canada cut their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Prothena Trading Down 13.0 %

NASDAQ:PRTA opened at $14.01 on Wednesday. The business’s fifty day moving average is $18.19 and its 200 day moving average is $20.34. Prothena has a 52-week low of $14.00 and a 52-week high of $41.54.

Prothena (NASDAQ:PRTA) last announced 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. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was down 98.9% on a year-over-year basis. Research analysts forecast that Prothena will post -2.29 earnings per share for the current year.

Hedge Funds Weigh In On Prothena

Several institutional investors have recently modified their holdings of PRTA. Susquehanna Fundamental Investments LLC purchased a new stake in Prothena in the first quarter worth approximately $342,000. Headlands Technologies LLC purchased a new stake in shares of Prothena in the 1st quarter valued at $96,000. ProShare Advisors LLC boosted its stake in shares of Prothena by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 932 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Prothena by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after purchasing an additional 54,728 shares during the last quarter. Finally, Artal Group S.A. raised its position in Prothena by 99.7% in the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after purchasing an additional 500,000 shares during the period. 97.08% of the stock is currently owned by institutional investors.

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.