Chardan Capital Cuts Prothena (NASDAQ:PRTA) Price Target to $18.00

Prothena (NASDAQ:PRTA) had its price target reduced by Chardan Capital from $40.00 to $18.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on PRTA. HC Wainwright decreased their price objective on Prothena from $48.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Oppenheimer upped their price objective on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald upgraded Prothena to a “strong-buy” rating in a report on Tuesday, May 13th. Wall Street Zen raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Piper Sandler increased their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Prothena Stock Up 2.2%

Shares of PRTA opened at $4.70 on Tuesday. Prothena has a 52-week low of $4.32 and a 52-week high of $25.42. The company has a market capitalization of $252.99 million, a PE ratio of -2.04 and a beta of 0.11. The company has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $12.57.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $8.18 million. During the same quarter in the prior year, the firm earned ($1.34) earnings per share. Prothena’s quarterly revenue was up 5500.0% on a year-over-year basis. On average, research analysts anticipate that Prothena will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Hedge funds have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC grew its position in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 833 shares during the last quarter. GAMMA Investing LLC boosted its stake in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 5,875 shares during the period. Headlands Technologies LLC grew its position in Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 4,858 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Prothena in the first quarter valued at approximately $126,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Prothena during the fourth quarter valued at approximately $145,000. 97.08% of the stock is currently owned by 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.