Prothena (NASDAQ:PRTA) Price Target Raised to $11.00

Prothena (NASDAQ:PRTA) had its target price upped by Royal Bank Of Canada from $10.00 to $11.00 in a research note released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

A number of other brokerages have also recently commented on PRTA. HC Wainwright upped their price target on shares of Prothena from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Piper Sandler upped their target price on Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Chardan Capital reaffirmed a “buy” rating and set a $18.00 target price on shares of Prothena in a research note on Thursday, August 28th. JMP Securities dropped their price target on Prothena from $29.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prothena in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.78.

Prothena Price Performance

NASDAQ PRTA traded down $0.03 on Friday, reaching $10.53. The company had a trading volume of 673,717 shares, compared to its average volume of 979,284. The firm has a market cap of $566.83 million, a price-to-earnings ratio of -1.87 and a beta of -0.09. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $18.60. The business has a 50 day moving average of $9.49 and a two-hundred day moving average of $7.79.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The company had revenue of $2.42 million for the quarter, compared to the consensus estimate of $6.64 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. As a group, research analysts predict that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Prothena by 479.6% during the third quarter. JPMorgan Chase & Co. now owns 735,765 shares of the biotechnology company’s stock valued at $7,181,000 after buying an additional 608,814 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Prothena during the 3rd quarter valued at about $130,000. Ballentine Partners LLC bought a new stake in Prothena during the 3rd quarter worth approximately $179,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Prothena in the third quarter worth approximately $119,000. Finally, Strs Ohio lifted its holdings in shares of Prothena by 75.6% in the third quarter. Strs Ohio now owns 28,800 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 12,400 shares in the last quarter. Institutional investors 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.