Prothena (NASDAQ:PRTA) Given New $18.00 Price Target at Chardan Capital

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

Several other equities research analysts also recently commented on PRTA. Oppenheimer boosted their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. HC Wainwright dropped their price target on shares of Prothena from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald upgraded shares of Prothena to a “strong-buy” rating in a research note on Tuesday, May 13th. Piper Sandler lifted their target price on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.50.

Prothena Price Performance

Shares of Prothena stock opened at $4.58 on Tuesday. Prothena has a 1 year low of $4.45 and a 1 year high of $25.42. The firm has a market cap of $246.53 million, a price-to-earnings ratio of -1.99 and a beta of 0.11. The company has a 50-day moving average of $9.38 and a 200 day moving average of $12.72.

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

Institutional Investors Weigh In On Prothena

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Siren L.L.C. lifted its holdings in shares of Prothena by 16.7% during the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock valued at $15,884,000 after buying an additional 183,715 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Prothena during the first quarter valued at $230,000. Birchview Capital LP increased its position in Prothena by 9.3% during the first quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company’s stock valued at $4,121,000 after acquiring an additional 28,400 shares during the last quarter. PDT Partners LLC lifted its holdings in Prothena by 18.2% in the first quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company’s stock valued at $1,860,000 after acquiring an additional 23,113 shares during the period. Finally, Wellington Management Group LLP boosted its position in Prothena by 1.3% in the first quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock worth $64,344,000 after purchasing an additional 68,652 shares during the last quarter. Hedge funds and other 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.