Prothena’s (PRTA) Buy Rating Reaffirmed at HC Wainwright

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $84.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 438.81% from the stock’s current price. HC Wainwright also issued estimates for Prothena’s FY2028 earnings at $3.34 EPS.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada cut their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Bank of America cut their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Finally, Oppenheimer cut their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Prothena has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Stock Down 3.2 %

Shares of PRTA stock traded down $0.51 during trading hours on Wednesday, hitting $15.59. 42,892 shares of the company’s stock traded hands, compared to its average volume of 579,344. The stock’s fifty day simple moving average is $18.32 and its two-hundred day simple moving average is $20.38. Prothena has a 12-month low of $15.30 and a 12-month high of $41.54. The stock has a market cap of $838.43 million, a price-to-earnings ratio of -6.49 and a beta of 0.16.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that Prothena will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prothena

Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Prothena during the first quarter valued at approximately $342,000. Headlands Technologies LLC purchased a new position in Prothena during the first quarter valued at approximately $96,000. ProShare Advisors LLC increased its holdings in Prothena by 8.9% during the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 932 shares during the period. Vanguard Group Inc. increased its holdings in Prothena by 5.1% during the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares during the period. Finally, Artal Group S.A. increased its holdings in Prothena by 99.7% during the first quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after buying an additional 500,000 shares during the period. 97.08% of the stock is 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.