Prothena’s (PRTA) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Prothena (NASDAQ:PRTA) in a report issued on Tuesday,Benzinga reports. Chardan Capital currently has a $18.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on PRTA. Piper Sandler decreased their price target on shares of Prothena from $110.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, May 27th. JMP Securities decreased their price target on shares of Prothena from $78.00 to $29.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 27th. Jefferies Financial Group lowered shares of Prothena from a “buy” rating to a “hold” rating and set a $6.00 price target for the company. in a research note on Tuesday, May 27th. HC Wainwright decreased their price target on shares of Prothena from $30.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Prothena in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Prothena currently has an average rating of “Hold” and a consensus target price of $30.25.

Prothena Trading Down 2.5%

Shares of PRTA opened at $7.72 on Tuesday. The company has a market capitalization of $415.57 million, a price-to-earnings ratio of -1.37 and a beta of -0.03. The stock has a 50 day moving average of $6.13 and a 200 day moving average of $9.71. Prothena has a 12 month low of $4.32 and a 12 month high of $23.66.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.75). The business had revenue of $4.42 million for the quarter, compared to analysts’ expectations of $5.36 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. As a group, equities research analysts predict that Prothena will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Monaco Asset Management SAM bought a new stake in Prothena during the 2nd quarter valued at $425,000. Acadian Asset Management LLC bought a new stake in Prothena during the 2nd quarter valued at $6,176,000. Los Angeles Capital Management LLC bought a new stake in Prothena during the 2nd quarter valued at $101,000. Prospera Financial Services Inc bought a new stake in Prothena during the 2nd quarter valued at $61,000. Finally, Corton Capital Inc. purchased a new stake in Prothena in the 2nd quarter worth approximately $85,000. 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.