Prothena (NASDAQ:PRTA) Price Target Raised to $110.00 at Piper Sandler

Prothena (NASDAQ:PRTA) had its target price raised by investment analysts at Piper Sandler from $94.00 to $110.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on PRTA. Chardan Capital reissued a “buy” rating and set a $40.00 price target on shares of Prothena in a research report on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of Prothena in a report on Friday, February 21st. Bank of America lowered 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. Finally, Oppenheimer increased their price target on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Price Performance

Shares of Prothena stock traded down $0.24 during midday trading on Wednesday, hitting $14.39. The company had a trading volume of 154,968 shares, compared to its average volume of 370,444. The business’s 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $16.68. The stock has a market cap of $774.31 million, a PE ratio of -6.28 and a beta of 0.08. Prothena has a 1-year low of $11.70 and a 1-year high of $31.03.

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

Hedge Funds Weigh In On Prothena

A number of large investors have recently added to or reduced their stakes in PRTA. Virtus ETF Advisers LLC lifted its holdings in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 833 shares during the period. Headlands Technologies LLC raised its holdings in Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Prothena during the 4th quarter worth $145,000. Purkiss Capital Advisors LLC acquired a new stake in Prothena during the fourth quarter worth $149,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,065 shares in the last quarter. 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.