Prothena (NASDAQ:PRTA) Rating Reiterated by Cantor Fitzgerald

Prothena (NASDAQ:PRTA)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report issued on Monday, Benzinga reports.

A number of other brokerages have also issued reports on PRTA. HC Wainwright dropped their target price on Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada cut their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Finally, JMP Securities decreased their price target on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.43.

Prothena Stock Performance

Prothena stock opened at $19.98 on Monday. The firm has a market capitalization of $1.07 billion, a PE ratio of -6.15 and a beta of 0.21. Prothena has a one year low of $18.69 and a one year high of $61.68. The stock’s 50 day moving average price is $21.50 and its 200 day moving average price is $23.50.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. The business had revenue of $132.01 million for the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. The business’s revenue for the quarter was up 3184.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.03) earnings per share. On average, analysts forecast that Prothena will post -4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently made changes to their positions in PRTA. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Prothena by 8.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,751 shares of the biotechnology company’s stock worth $1,008,000 after purchasing an additional 2,099 shares during the period. Strs Ohio raised its stake in Prothena by 55.1% during the fourth quarter. Strs Ohio now owns 10,700 shares of the biotechnology company’s stock worth $388,000 after acquiring an additional 3,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prothena by 28.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,563 shares of the biotechnology company’s stock worth $348,000 after acquiring an additional 2,099 shares during the last quarter. HealthInvest Partners AB acquired a new position in Prothena in the fourth quarter valued at approximately $303,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Prothena by 4.2% during the fourth quarter. Handelsbanken Fonder AB now owns 61,400 shares of the biotechnology company’s stock valued at $2,231,000 after purchasing an additional 2,500 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.