Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating restated by analysts at Cantor Fitzgerald in a research report issued on Friday, Marketbeat reports. They presently have a $18.00 price target on the biotechnology company’s stock, up from their prior price target of $14.00. Cantor Fitzgerald’s price objective suggests a potential upside of 21.21% from the company’s current price.
The analysts wrote, “We are reiterating our Overweight rating for PRTA stock and we are raising our PT to $18 from $14 based on our analysis of the potential value of PRTA’s drug discovery platform and management’s recently announced restructuring plan.””
PRTA has been the subject of several other reports. Zacks Investment Research upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 19th. BidaskClub upgraded Prothena from a “strong sell” rating to a “sell” rating in a report on Saturday, February 17th. Wedbush decreased their price objective on Prothena from $46.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 24th. Nomura decreased their price objective on Prothena from $87.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, April 24th. Finally, Oppenheimer set a $70.00 price objective on Prothena and gave the company a “buy” rating in a report on Wednesday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.00.
Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.03). The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $31.45 million. Prothena had a negative return on equity of 38.08% and a negative net margin of 606.09%. research analysts predict that Prothena will post -3.45 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HBK Investments L P acquired a new stake in Prothena during the 4th quarter worth about $213,000. Xact Kapitalforvaltning AB acquired a new stake in Prothena during the 1st quarter worth about $210,000. LPL Financial LLC acquired a new stake in Prothena during the 1st quarter worth about $210,000. Aperio Group LLC acquired a new stake in Prothena during the 1st quarter worth about $222,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Prothena during the 1st quarter worth about $284,000.
Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on the discovery, development, and commercialization of novel immunotherapies for the treatment of diseases in the neuroscience and orphan categories. The company is developing antibody-based product candidates that include NEOD001, a monoclonal antibody that is in Phase III and Phase IIb clinical trials for the treatment of AL amyloidosis; PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a monoclonal antibody that is under preclinical development for the treatment of ATTR Amyloidosis.
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