Prothena’s (PRTA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $84.00 price objective on the biotechnology company’s stock. HC Wainwright also issued estimates for Prothena’s FY2028 earnings at $3.34 EPS.

Several other brokerages have also recently weighed in on PRTA. Bank of America reduced their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Oppenheimer dropped their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada lowered their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Stock Performance

PRTA stock opened at $14.01 on Wednesday. The firm has a market cap of $753.46 million, a PE ratio of -5.65 and a beta of 0.16. The firm has a fifty day moving average price of $18.19 and a 200 day moving average price of $20.34. Prothena has a fifty-two week low of $14.00 and a fifty-two week high of $41.54.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue was down 98.9% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, equities analysts predict that Prothena will post -2.34 EPS for the current year.

Institutional Investors Weigh In On Prothena

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 863 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Prothena in the 1st quarter worth $96,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 4,026 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Prothena by 8.9% in the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 932 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.

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.