Prothena (NASDAQ:PRTA) Upgraded at StockNews.com

StockNews.com upgraded shares of Prothena (NASDAQ:PRTA) from a sell rating to a hold rating in a report issued on Monday morning.

A number of other brokerages have also issued reports on PRTA. HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of Prothena in a research report on Friday, February 21st. Chardan Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Prothena in a report on Friday, February 21st. Oppenheimer increased their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada lowered their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Bank of America reduced their price objective on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Prothena presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Prothena Stock Down 0.5 %

Shares of PRTA stock opened at $14.55 on Monday. Prothena has a 12-month low of $11.70 and a 12-month high of $31.03. The firm has a fifty day moving average of $14.45 and a 200-day moving average of $16.67. The company has a market capitalization of $782.92 million, a price-to-earnings ratio of -6.33 and a beta of 0.08.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. On average, equities analysts expect that Prothena will post -4.04 EPS for the current year.

Institutional Trading of Prothena

Several hedge funds have recently modified their holdings of PRTA. Creative Planning bought a new position in shares of Prothena in the third quarter valued at $350,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Prothena by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 4,026 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Prothena by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after acquiring an additional 2,847 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Prothena during the 3rd quarter valued at about $484,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Prothena by 8.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after purchasing an additional 9,666 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.

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.