Prothena (NASDAQ:PRTA) Price Target Cut to $20.00 by Analysts at Royal Bank of Canada

Prothena (NASDAQ:PRTA) had its target price cut by Royal Bank of Canada from $24.00 to $20.00 in a research report report published on Friday morning,Benzinga reports. They currently have a sector perform rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Bank of America reduced their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Chardan Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Prothena in a research note on Friday. Oppenheimer boosted their price target on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Friday. Finally, StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.83.

Prothena Trading Up 2.0 %

Shares of PRTA stock opened at $15.56 on Friday. Prothena has a 12 month low of $11.70 and a 12 month high of $31.03. The business’s 50 day moving average is $14.33 and its two-hundred day moving average is $16.80.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The firm had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. As a group, research analysts forecast that Prothena will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Prothena by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after buying an additional 952,088 shares during the period. Vanguard Group Inc. raised its stake in Prothena by 11.5% during the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company’s stock worth $19,443,000 after acquiring an additional 144,737 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Prothena by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company’s stock valued at $11,980,000 after acquiring an additional 10,783 shares during the period. Federated Hermes Inc. boosted its stake in shares of Prothena by 84.3% in the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock valued at $10,335,000 after purchasing an additional 341,274 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Prothena in the 4th quarter worth about $9,556,000. 97.08% of the stock is currently owned by institutional investors.

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.