Prothena (NASDAQ:PRTA) Coverage Initiated at Chardan Capital

Stock analysts at Chardan Capital initiated coverage on shares of Prothena (NASDAQ:PRTA - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The firm set a "buy" rating and a $40.00 price target on the biotechnology company's stock. Chardan Capital's target price points to a potential upside of 162.81% from the stock's current price.

A number of other analysts also recently weighed in on PRTA. Bank of America decreased their price target on Prothena from $26.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday. StockNews.com downgraded Prothena from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a report on Monday, September 30th. Finally, HC Wainwright restated a "buy" rating and set a $84.00 price target on shares of Prothena in a report on Wednesday, November 13th. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $52.29.

Prothena Stock Down 4.9 %

Shares of PRTA traded down $0.79 during midday trading on Friday, reaching $15.22. 1,557,225 shares of the stock were exchanged, compared to its average volume of 592,325. The stock's 50 day simple moving average is $15.73 and its 200 day simple moving average is $19.14. The company has a market cap of $818.97 million, a P/E ratio of -6.14 and a beta of 0.09. Prothena has a twelve month low of $11.70 and a twelve month high of $41.54.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter last year, the business posted $0.38 EPS. The firm's revenue for the quarter was down 98.9% on a year-over-year basis. As a group, analysts predict that Prothena will post -2.24 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of hedge funds have recently added to or reduced their stakes in the stock. DCF Advisers LLC lifted its holdings in Prothena by 0.5% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company's stock valued at $2,219,000 after purchasing an additional 500 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company's stock worth $293,000 after buying an additional 739 shares during the period. Signaturefd LLC increased its stake in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock worth $28,000 after buying an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company's stock valued at $211,000 after acquiring an additional 1,186 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Prothena by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company's stock worth $2,104,000 after acquiring an additional 2,847 shares during the period. 97.08% of the stock is currently 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.