Prothena (NASDAQ:PRTA) Upgraded by Wall Street Zen to “Hold” Rating

Prothena (NASDAQ:PRTA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

PRTA has been the topic of a number of other research reports. HC Wainwright raised their target price on shares of Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. UBS Group set a $36.00 price target on shares of Prothena in a report on Tuesday, October 28th. Royal Bank Of Canada boosted their price objective on Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday. JMP Securities cut their price target on Prothena from $29.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prothena in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Prothena currently has a consensus rating of “Hold” and a consensus target price of $25.78.

Prothena Stock Performance

Shares of NASDAQ PRTA traded up $0.48 during mid-day trading on Friday, reaching $10.56. The company had a trading volume of 928,366 shares, compared to its average volume of 981,456. Prothena has a one year low of $4.32 and a one year high of $18.60. The firm has a market cap of $568.44 million, a price-to-earnings ratio of -1.87 and a beta of -0.09. The business’s 50-day simple moving average is $9.49 and its 200 day simple moving average is $7.82.

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

Institutional Trading of Prothena

A number of hedge funds have recently bought and sold shares of PRTA. Acadian Asset Management LLC purchased a new stake in Prothena during the second quarter valued at about $6,176,000. Rangeley Capital LLC bought a new stake in shares of Prothena in the second quarter valued at approximately $4,342,000. Federated Hermes Inc. lifted its stake in shares of Prothena by 116.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,181,087 shares of the biotechnology company’s stock valued at $7,169,000 after buying an additional 634,832 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Prothena by 479.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 735,765 shares of the biotechnology company’s stock worth $7,181,000 after buying an additional 608,814 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Prothena in the 2nd quarter worth approximately $3,495,000. 97.08% of the stock is currently 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.