Prothena (NASDAQ:PRTA) PT Lowered to $83.00

Prothena (NASDAQ:PRTA) had its target price reduced by stock analysts at JMP Securities from $85.00 to $83.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price objective would indicate a potential upside of 277.27% from the company’s previous close.

Several other research firms have also recently commented on PRTA. Royal Bank of Canada dropped their target price on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. HC Wainwright cut their price objective on Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer lowered their target price on Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Bank of America restated a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Prothena Trading Down 4.5 %

NASDAQ PRTA traded down $1.03 during trading hours on Thursday, hitting $22.00. The company’s stock had a trading volume of 634,713 shares, compared to its average volume of 733,586. The company has a market capitalization of $1.18 billion, a PE ratio of -7.80 and a beta of 0.30. Prothena has a 52 week low of $19.65 and a 52 week high of $77.36. The company’s 50-day simple moving average is $24.30 and its two-hundred day simple moving average is $30.50.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results 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). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $3.75 million. During the same quarter last year, the company posted ($0.89) EPS. Research analysts anticipate that Prothena will post -4.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PRTA. FMR LLC increased its position in shares of Prothena by 1.5% during the third quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock valued at $387,461,000 after buying an additional 117,524 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Prothena by 10.9% during the 4th 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 raised its position in shares of Prothena by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock worth $94,270,000 after acquiring an additional 452,455 shares in the last quarter. Boxer Capital LLC lifted 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 during the period. Finally, Granahan Investment Management LLC boosted its position in shares of Prothena by 19.9% during the fourth quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock valued at $15,159,000 after purchasing an additional 69,092 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

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.