Cantor Fitzgerald Reaffirms “Overweight” Rating for Prothena (NASDAQ:PRTA)

Cantor Fitzgerald reissued their overweight rating on shares of Prothena (NASDAQ:PRTA) in a report published on Friday,Benzinga reports.

Several other research analysts have also issued reports on the company. Oppenheimer increased their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of Prothena in a report on Friday. Bank of America dropped their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Chardan Capital reiterated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research note on Friday. Finally, StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Prothena currently has an average rating of “Moderate Buy” and an average target price of $45.83.

Prothena Stock Performance

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

Prothena (NASDAQ:PRTA) last announced its quarterly 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). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $7.53 million. Equities research analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prothena

Hedge funds have recently bought and sold shares of the company. Barclays PLC raised its holdings in Prothena by 110.2% in the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 49,916 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock valued at $521,000 after acquiring an additional 23,525 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prothena by 1,122.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after acquiring an additional 483,673 shares in the last quarter. Duncan Williams Asset Management LLC raised its holdings in Prothena by 41.9% in the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after acquiring an additional 20,450 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in Prothena in the 4th quarter valued at approximately $445,000. Institutional investors own 97.08% of the company’s stock.

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.