Prothena (NASDAQ:PRTA) Upgraded at StockNews.com

Prothena (NASDAQ:PRTA) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on PRTA. Chardan Capital restated a “buy” rating and set a $40.00 price target on shares of Prothena in a research report on Friday. Oppenheimer raised their price objective on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price on shares of Prothena in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.83.

Prothena Trading Down 2.1 %

Shares of NASDAQ PRTA traded down $0.33 during midday trading on Monday, hitting $15.23. 354,021 shares of the company’s stock were exchanged, compared to its average volume of 376,580. The business’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $16.73. The company has a market cap of $819.51 million, a price-to-earnings ratio of -6.62 and a beta of 0.08. Prothena has a 12-month low of $11.70 and a 12-month high of $31.03.

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

Institutional Trading of Prothena

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in shares of Prothena by 22.8% in the fourth 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. Boxer Capital Management LLC bought a new stake in Prothena in the 4th quarter worth $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prothena by 1,122.9% in 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 during the period. Federated Hermes Inc. raised its stake in shares of Prothena by 84.3% during the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock valued at $10,335,000 after acquiring an additional 341,274 shares during the last quarter. Finally, Finepoint Capital LP raised its stake in shares of Prothena by 51.6% during the fourth quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock valued at $9,100,000 after acquiring an additional 223,600 shares during the last quarter. 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.