Prothena’s (PRTA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $14.00 price objective on the biotechnology company’s stock. HC Wainwright also issued estimates for Prothena’s FY2025 earnings at ($4.13) EPS, FY2026 earnings at ($1.70) EPS, FY2027 earnings at ($5.22) EPS, FY2028 earnings at ($2.49) EPS and FY2029 earnings at ($3.34) EPS.

PRTA has been the topic of a number of other research reports. Bank of America reaffirmed an “underperform” rating on shares of Prothena in a research note on Wednesday, May 28th. Oppenheimer downgraded shares of Prothena from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 27th. Piper Sandler cut their price target on shares of Prothena from $110.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Jefferies Financial Group downgraded shares of Prothena from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a research note on Tuesday, May 27th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Prothena in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Prothena presently has an average rating of “Hold” and a consensus target price of $30.25.

Prothena Stock Performance

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 company’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $9.71. Prothena has a 1 year low of $4.32 and a 1 year high of $23.66.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.75). The firm 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%. Equities analysts expect that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently added to or reduced their stakes in PRTA. Prospera Financial Services Inc acquired a new stake in Prothena during the 2nd quarter valued at $61,000. Virtus ETF Advisers LLC grew its holdings in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares in the last quarter. GAMMA Investing LLC grew its holdings in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 5,875 shares in the last quarter. Corton Capital Inc. acquired a new stake in Prothena during the 2nd quarter valued at $85,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Prothena during the 2nd quarter valued at $101,000. 97.08% of the stock is owned by institutional investors and hedge funds.

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.