Oppenheimer Reiterates $70.00 Price Target for Prothena (PRTA)

Oppenheimer set a $70.00 price target on Prothena (NASDAQ:PRTA) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

PRTA has been the subject of a number of other reports. Zacks Investment Research raised Prothena from a sell rating to a hold rating in a research note on Monday, February 19th. BidaskClub raised Prothena from a strong sell rating to a sell rating in a research note on Saturday, February 17th. ValuEngine downgraded Prothena from a sell rating to a strong sell rating in a research note on Wednesday, February 7th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $65.00 price objective on shares of Prothena in a research note on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Prothena presently has an average rating of Buy and a consensus target price of $74.91.

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Shares of PRTA stock opened at $38.21 on Wednesday. Prothena has a one year low of $27.19 and a one year high of $70.00.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Wednesday, February 14th. The biotechnology company reported ($1.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.48) by $0.24. Prothena had a negative return on equity of 33.37% and a negative net margin of 556.84%. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.27 million. During the same period last year, the business earned ($1.41) EPS. The business’s quarterly revenue was up 33.9% on a year-over-year basis. equities analysts anticipate that Prothena will post -5.87 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Fieldpoint Private Securities LLC bought a new position in shares of Prothena in the 3rd quarter valued at approximately $162,000. Teacher Retirement System of Texas bought a new position in shares of Prothena in the 3rd quarter valued at approximately $206,000. First Trust Advisors LP bought a new position in shares of Prothena in the 3rd quarter valued at approximately $212,000. HBK Investments L P bought a new position in shares of Prothena in the 4th quarter valued at approximately $213,000. Finally, SG Americas Securities LLC raised its stake in shares of Prothena by 70.8% in the 3rd quarter. SG Americas Securities LLC now owns 6,942 shares of the biotechnology company’s stock valued at $450,000 after acquiring an additional 2,878 shares in the last quarter.

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About Prothena

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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