Prothena (NASDAQ:PRTA) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Prothena (NASDAQ:PRTA) from a hold rating to a sell rating in a research note published on Tuesday morning.

PRTA has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Oppenheimer dropped their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada lowered their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $84.00 price target on shares of Prothena in a research note on Wednesday, November 13th. Finally, Bank of America lowered their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Trading Up 4.0 %

NASDAQ:PRTA opened at $14.05 on Tuesday. Prothena has a 12 month low of $13.22 and a 12 month high of $41.54. The stock has a market capitalization of $756.03 million, a price-to-earnings ratio of -5.67 and a beta of 0.16. The firm has a fifty day simple moving average of $17.92 and a two-hundred day simple moving average of $20.20.

Prothena (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm’s revenue was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts predict that Prothena will post -2.29 earnings per share for the current fiscal year.

Institutional Trading of Prothena

A number of institutional investors and hedge funds have recently modified their holdings of PRTA. Barclays PLC grew its stake in Prothena by 110.2% in the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 49,916 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after buying an additional 739 shares during the last quarter. XTX Topco Ltd bought a new position in Prothena during the third quarter valued at about $260,000. Wellington Management Group LLP increased its holdings in Prothena by 14.8% during the third quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after buying an additional 539,359 shares during the last quarter. Finally, PDT Partners LLC raised its position in Prothena by 7.7% in the third quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock worth $1,851,000 after acquiring an additional 7,946 shares during the period. 97.08% of the stock is owned by hedge funds and other institutional investors.

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.