Prothena (NASDAQ:PRTA) Given “Underperform” Rating at Bank of America

Prothena (NASDAQ:PRTA)‘s stock had its “underperform” rating reissued by equities researchers at Bank of America in a research report issued to clients and investors on Wednesday, Marketbeat reports.

Several other research firms have also recently weighed in on PRTA. Chardan Capital cut their price target on Prothena from $40.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen upgraded Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. JMP Securities dropped their price objective on shares of Prothena from $78.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday. HC Wainwright lowered their price target on Prothena from $30.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Prothena has a consensus rating of “Hold” and an average target price of $31.50.

Prothena Trading Up 2.2%

NASDAQ PRTA traded up $0.10 during trading hours on Wednesday, hitting $4.70. 5,378,265 shares of the company’s stock traded hands, compared to its average volume of 681,430. The business’s fifty day moving average price is $9.04 and its two-hundred day moving average price is $12.57. The firm has a market capitalization of $252.99 million, a P/E ratio of -2.04 and a beta of 0.11. Prothena has a 52 week low of $4.32 and a 52 week high of $25.42.

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

Institutional Investors Weigh In On Prothena

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTA. Virtus ETF Advisers LLC increased its position in shares of Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 833 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares during the last quarter. Rhumbline Advisers increased its holdings in Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Prothena by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 1,551 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Prothena by 4.0% in the fourth quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company’s stock valued at $593,000 after buying an additional 1,632 shares in the last quarter. 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.