Prothena (NASDAQ:PRTA) PT Lowered to $84.00 at HC Wainwright

Prothena (NASDAQ:PRTA) had its price objective decreased by equities research analysts at HC Wainwright from $90.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 281.82% from the company’s previous close.

Several other brokerages have also issued reports on PRTA. Oppenheimer cut their price objective on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. JMP Securities lifted their price objective on shares of Prothena from $81.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. Bank of America reissued a “neutral” rating and set a $38.00 target price (down previously from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada cut their price target on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Prothena has an average rating of “Moderate Buy” and an average price target of $67.00.

Prothena Stock Performance

Prothena stock traded down $1.03 during trading hours on Thursday, hitting $22.00. The company had a trading volume of 634,713 shares, compared to its average volume of 733,586. The firm has a market cap of $1.18 billion, a P/E ratio of -7.80 and a beta of 0.30. The company has a 50-day moving average price of $24.30 and a two-hundred day moving average price of $30.50. Prothena has a 1 year low of $19.65 and a 1 year high of $77.36.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $3.75 million. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. During the same period last year, the company earned ($0.89) EPS. As a group, equities research analysts anticipate that Prothena will post -4.88 EPS for the current year.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently bought and sold shares of PRTA. FMR LLC lifted its stake in shares of Prothena by 1.5% in the 3rd quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock valued at $387,461,000 after purchasing an additional 117,524 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Prothena by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after acquiring an additional 417,338 shares during the period. Wellington Management Group LLP grew its position in shares of Prothena by 21.1% during the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock valued at $94,270,000 after acquiring an additional 452,455 shares during the period. Boxer Capital LLC increased its stake in shares of Prothena by 6.4% in the 4th quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock valued at $24,166,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Granahan Investment Management LLC raised its holdings in Prothena by 19.9% in the 4th quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock worth $15,159,000 after purchasing an additional 69,092 shares during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

About Prothena

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.