Prothena (NASDAQ:PRTA) Earns "Overweight" Rating from Cantor Fitzgerald

Prothena (NASDAQ:PRTA - Get Free Report)'s stock had its "overweight" rating restated by Cantor Fitzgerald in a research note issued on Friday,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. Oppenheimer raised their price target on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Chardan Capital reaffirmed a "buy" rating and set a $40.00 target price on shares of Prothena in a research report on Friday. StockNews.com downgraded Prothena from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. HC Wainwright reissued a "buy" rating and issued a $48.00 price target on shares of Prothena in a research note on Friday. Finally, Bank of America cut their price objective on Prothena from $26.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.83.

Prothena Price Performance

PRTA stock traded down $0.60 during midday trading on Friday, reaching $14.63. 387,703 shares of the stock were exchanged, compared to its average volume of 376,889. The stock has a market capitalization of $787.23 million, a PE ratio of -6.36 and a beta of 0.08. Prothena has a 52 week low of $11.70 and a 52 week high of $31.03. The company has a fifty day moving average price of $14.38 and a 200 day moving average price of $16.73.

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

Institutional Investors Weigh In On Prothena

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company's stock worth $1,592,000 after buying an additional 49,916 shares in the last quarter. SG Americas Securities LLC boosted its stake in Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock worth $521,000 after acquiring an additional 23,525 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $8,812,000 after purchasing an additional 483,673 shares during the period. Duncan Williams Asset Management LLC increased its stake in Prothena by 41.9% in the fourth quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company's stock valued at $958,000 after purchasing an additional 20,450 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new stake in Prothena in the fourth quarter valued at $445,000. Institutional investors and hedge funds 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.