Prothena (NASDAQ:PRTA) Receives Buy Rating from Chardan Capital

Prothena (NASDAQ:PRTA - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $40.00 price target on the biotechnology company's stock. Chardan Capital's target price indicates a potential upside of 173.41% from the company's previous close.

PRTA has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $48.00 target price (down from $84.00) on shares of Prothena in a research note on Friday, December 20th. StockNews.com downgraded shares of Prothena from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Oppenheimer lifted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Bank of America decreased their price target 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Prothena currently has an average rating of "Moderate Buy" and a consensus target price of $45.83.

Prothena Stock Down 3.9 %

NASDAQ:PRTA traded down $0.60 during mid-day trading on Friday, hitting $14.63. 387,703 shares of the stock traded hands, compared to its average volume of 376,842. The business's 50-day moving average price is $14.38 and its 200 day moving average price is $16.73. The company has a market cap of $787.23 million, a PE ratio of -6.36 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The firm had revenue of $2.12 million during the quarter, compared to the consensus estimate of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. Analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PRTA. Wellington Management Group LLP grew its holdings 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 valued at $71,063,000 after purchasing an additional 952,088 shares during the last quarter. Boxer Capital Management LLC purchased a new stake in Prothena during the fourth quarter valued at about $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 buying an additional 483,673 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Prothena by 84.3% in the fourth 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 during the period. Finally, Finepoint Capital LP increased its holdings in shares of Prothena by 51.6% in the fourth 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 period. 97.08% of the stock is 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.