A number of firms have modified their ratings and price targets on shares of Prothena Corp. (NASDAQ: PRTA) recently:

  • 11/25/2016 – Prothena Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
  • 11/24/2016 – Prothena Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $71.00 price target on the stock. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
  • 11/18/2016 – Prothena Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
  • 11/17/2016 – Prothena Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $72.00 price target on the stock. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
  • 11/10/2016 – Prothena Corp. had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $77.00 price target on the stock.
  • 11/4/2016 – Prothena Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Prothena’s third-quarter results were disappointing with the company posting a wider-than-expected loss. Nevertheless, its license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration boosts the company’s pipeline development and provides it with funds in the form of research reimbursement and milestone payments. We are encouraged by the company’s efforts in developing its lead candidate, NEOD001, being evaluated for the treatment of amyloid light-chain amyloidosis However, the company depends on its only late-stage pipeline candidate, NEOD001 for growth. Any unfavorable outcome related to the candidate would adversely impact the company. Moreover, Prothena has a limited number of candidates in the pipeline, with most of them several years from commercialization.”
  • 11/3/2016 – Prothena Corp. is now covered by analysts at Deutsche Bank AG. They set a “buy” rating and a $73.00 price target on the stock.
  • 10/31/2016 – Prothena Corp. had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $77.00 price target on the stock.
  • 10/4/2016 – Prothena Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Prothena is a development-stage biotech company with its focus on the development of novel protein immunotherapies. The company’s top line consists entirely of collaboration revenues from its partners and other revenues from third parties. Moreover, the company depends on its only late-stage pipeline candidate, NEOD001, being developed for the treatment of amyloid light-chain amyloidosis (AL amyloidosis). Any unfavorable outcome on the candidate would adversely impact the company. Also, the company has a limited number of candidates in the pipeline, most of which are several years from commercialization. Nevertheless, Prothena’s license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration should boost the company’s pipeline development and provide it with funds in the form of research reimbursement and milestone payments.”

Shares of Prothena Corp. (NASDAQ:PRTA) opened at 60.19 on Wednesday. The company’s market cap is $2.08 billion. The stock has a 50 day moving average price of $55.80 and a 200-day moving average price of $51.93. Prothena Corp. has a 1-year low of $28.20 and a 1-year high of $73.47.

Prothena Corp. (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($1.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.22) by $0.04. The company earned $0.29 million during the quarter, compared to analysts’ expectations of $0.49 million. Prothena Corp. had a negative return on equity of 32.65% and a negative net margin of 11,365.41%. Equities research analysts forecast that Prothena Corp. will post ($4.36) earnings per share for the current year.

In other Prothena Corp. news, insider Arthur W. Homan sold 3,125 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $52.16, for a total value of $163,000.00. Following the completion of the sale, the insider now owns 3,125 shares of the company’s stock, valued at $163,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gene G. Kinney sold 8,548 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $55.32, for a total transaction of $472,875.36. Following the completion of the sale, the insider now directly owns 11,341 shares of the company’s stock, valued at approximately $627,384.12. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis (PRX003).

5 Day Chart for NASDAQ:PRTA

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