Oppenheimer Reiterates Buy Rating for Prothena (NASDAQ:PRTA)
Oppenheimer reissued their buy rating on shares of Prothena (NASDAQ:PRTA) in a research note published on Sunday, AnalystRatings.com reports. Oppenheimer currently has a $18.00 price objective on the biotechnology company’s stock.
Several other research analysts have also issued reports on PRTA. Zacks Investment Research upgraded shares of Prothena from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Saturday, June 6th. BidaskClub lowered shares of Prothena from a hold rating to a sell rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. Prothena currently has an average rating of Hold and an average target price of $16.20.
Shares of NASDAQ PRTA opened at $10.85 on Friday. The company has a 50 day simple moving average of $12.66 and a 200 day simple moving average of $11.38. The firm has a market cap of $432.84 million, a PE ratio of -4.76 and a beta of 1.84. Prothena has a 1 year low of $7.10 and a 1 year high of $17.63.
A number of institutional investors have recently added to or reduced their stakes in PRTA. Meeder Asset Management Inc. raised its holdings in Prothena by 1,429.4% during the 1st quarter. Meeder Asset Management Inc. now owns 2,493 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 2,330 shares during the last quarter. Bank of Montreal Can grew its position in shares of Prothena by 178.5% during the 2nd quarter. Bank of Montreal Can now owns 4,100 shares of the biotechnology company’s stock worth $50,000 after buying an additional 2,628 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of Prothena during the 1st quarter worth approximately $110,000. Stevard LLC acquired a new stake in shares of Prothena during the 2nd quarter worth approximately $110,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Prothena during the 2nd quarter worth approximately $110,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Prothena Corporation plc, a clinical-stage neuroscience company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.
Featured Article: What is a Backdoor Roth IRA?
Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.