Prothena’s (PRTA) “Buy” Rating Reaffirmed at Chardan Capital

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 162.30% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Oppenheimer upped their price objective on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Bank of America dropped their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. Finally, StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and an average price target of $46.50.

Prothena Stock Performance

NASDAQ PRTA opened at $15.25 on Friday. The business has a fifty day moving average price of $14.28 and a 200 day moving average price of $16.83. The company has a market cap of $820.60 million, a P/E ratio of -6.15 and a beta of 0.08. Prothena has a one year low of $11.70 and a one year high of $31.03.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. As a group, sell-side analysts predict that Prothena will post -2.24 EPS for the current fiscal year.

Institutional Trading of Prothena

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in shares of Prothena in the third quarter valued at $350,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Prothena by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 4,026 shares in the last quarter. Pinnacle Associates Ltd. grew 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 in the 3rd quarter valued at about $484,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Prothena by 8.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock valued at $2,049,000 after acquiring an additional 9,666 shares in the last quarter. Institutional investors and hedge funds 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.