Prothena (NASDAQ:PRTA) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Prothena (NASDAQ:PRTA - Free Report) from a sell rating to a hold rating in a report published on Monday.

Other equities research analysts have also issued reports about the stock. HC Wainwright reiterated a "buy" rating and issued a $48.00 target price on shares of Prothena in a report on Friday, February 21st. Chardan Capital reaffirmed a "buy" rating and set a $40.00 price objective on shares of Prothena in a research note on Friday, February 21st. Bank of America decreased their target price on Prothena from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a report on Friday, February 21st. Finally, Oppenheimer lifted 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Prothena Stock Up 4.5 %

Shares of Prothena stock traded up $0.68 during trading on Monday, reaching $15.81. 514,558 shares of the company were exchanged, compared to its average volume of 379,202. Prothena has a twelve month low of $11.70 and a twelve month high of $30.85. The business has a 50-day moving average price of $14.43 and a 200-day moving average price of $16.66. The firm has a market capitalization of $850.72 million, a price-to-earnings ratio of -6.87 and a beta of 0.08.

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

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake 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 acquiring an additional 952,088 shares in the last quarter. Boxer Capital Management LLC bought a new position in Prothena in the fourth quarter valued at $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prothena by 1,122.9% in the 3rd 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 buying an additional 483,673 shares during the last quarter. Federated Hermes Inc. lifted its position in Prothena by 84.3% during the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company's stock worth $10,335,000 after buying an additional 341,274 shares in the last quarter. Finally, Finepoint Capital LP boosted its stake in shares of Prothena by 51.6% during the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company's stock worth $9,100,000 after buying an additional 223,600 shares during the last quarter. Institutional investors and hedge funds 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.