Prothena (NASDAQ:PRTA) Rating Reiterated by Cantor Fitzgerald

Prothena (NASDAQ:PRTA)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Royal Bank of Canada dropped their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Finally, Oppenheimer cut their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Prothena Trading Down 0.5 %

NASDAQ PRTA opened at $16.65 on Monday. The company has a market cap of $895.30 million, a price-to-earnings ratio of -5.12 and a beta of 0.18. The company has a 50 day moving average of $21.37 and a 200-day moving average of $21.83. Prothena has a 1-year low of $15.52 and a 1-year high of $55.89.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. The company had revenue of $132.01 million during the quarter, compared to the consensus estimate of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The firm’s quarterly revenue was up 3184.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.03) EPS. On average, equities research analysts forecast that Prothena will post -2.31 earnings per share for the current year.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Prothena by 21.1% during the fourth quarter. Principal Financial Group Inc. now owns 30,973 shares of the biotechnology company’s stock valued at $1,126,000 after acquiring an additional 5,391 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Prothena by 32.2% during the 4th quarter. Rafferty Asset Management LLC now owns 207,419 shares of the biotechnology company’s stock valued at $7,538,000 after purchasing an additional 50,579 shares in the last quarter. Armistice Capital LLC acquired a new position in Prothena during the fourth quarter worth $10,103,000. DCF Advisers LLC lifted its stake in shares of Prothena by 1.3% in the fourth quarter. DCF Advisers LLC now owns 84,000 shares of the biotechnology company’s stock valued at $3,053,000 after buying an additional 1,050 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Prothena during the fourth quarter valued at about $2,069,000. 97.08% of the stock is owned by institutional investors.

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.