Prothena (NASDAQ:PRTA) Price Target Raised to $30.00

Prothena (NASDAQ:PRTA) had its target price hoisted by equities research analysts at HC Wainwright from $20.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 184.09% from the company’s current price.

A number of other brokerages also recently issued reports on PRTA. JMP Securities reduced their price objective on shares of Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 2nd. Piper Sandler raised their price objective on shares of Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Royal Bank Of Canada boosted their target price on Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday. Chardan Capital reissued a “buy” rating and set a $18.00 target price on shares of Prothena in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prothena in a report on Wednesday. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.78.

Prothena Price Performance

Shares of PRTA stock traded up $0.48 during trading hours on Friday, reaching $10.56. The company had a trading volume of 927,122 shares, compared to its average volume of 981,448. The business has a fifty day simple moving average of $9.44 and a 200-day simple moving average of $7.81. Prothena has a 12 month low of $4.32 and a 12 month high of $18.60. The company has a market cap of $568.44 million, a price-to-earnings ratio of -1.87 and a beta of -0.09.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The company had revenue of $2.42 million for the quarter, compared to the consensus estimate of $6.64 million. On average, equities research analysts expect that Prothena will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently made changes to their positions in PRTA. Prospera Financial Services Inc acquired a new position in Prothena during the second quarter worth $61,000. Tower Research Capital LLC TRC increased its position in Prothena by 571.0% during the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 10,815 shares during the last quarter. Corton Capital Inc. purchased a new position in Prothena during the second quarter worth about $85,000. CWM LLC boosted its holdings in Prothena by 650.1% in the 3rd quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 8,880 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Prothena during the 2nd quarter worth approximately $101,000. 97.08% of the stock is currently owned by hedge funds and other 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.