Prothena (PRTA) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Prothena (NASDAQ:PRTA) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Prothena from a hold rating to a sell rating in a research report on Tuesday, January 9th. Cantor Fitzgerald reissued a buy rating and set a $65.00 price target on shares of Prothena in a research report on Wednesday, December 20th. Oppenheimer set a $70.00 price target on shares of Prothena and gave the company a buy rating in a research report on Thursday, February 15th. BidaskClub raised shares of Prothena from a strong sell rating to a sell rating in a research report on Saturday, February 17th. Finally, Deutsche Bank reissued a buy rating on shares of Prothena in a research report on Wednesday, March 21st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $72.83.

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PRTA stock opened at $39.51 on Wednesday. Prothena has a 52-week low of $27.19 and a 52-week high of $70.00. The company has a market cap of $1,523.66, a PE ratio of -9.71 and a beta of 2.70.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Wednesday, February 14th. The biotechnology company reported ($1.24) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.48) by $0.24. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.27 million. Prothena had a negative net margin of 556.84% and a negative return on equity of 33.37%. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.41) earnings per share. sell-side analysts predict that Prothena will post -5.34 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of PRTA. First Trust Advisors LP bought a new stake in Prothena in the 3rd quarter worth approximately $212,000. New York State Common Retirement Fund grew its position in Prothena by 128.1% in the 3rd quarter. New York State Common Retirement Fund now owns 94,900 shares of the biotechnology company’s stock worth $6,147,000 after purchasing an additional 53,300 shares during the period. Rhumbline Advisers grew its position in Prothena by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 46,872 shares of the biotechnology company’s stock worth $3,036,000 after purchasing an additional 1,610 shares during the period. Russell Investments Group Ltd. grew its position in Prothena by 10.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 37,325 shares of the biotechnology company’s stock worth $2,417,000 after purchasing an additional 3,449 shares during the period. Finally, SG Americas Securities LLC grew its position in Prothena by 70.8% in the 3rd quarter. SG Americas Securities LLC now owns 6,942 shares of the biotechnology company’s stock worth $450,000 after purchasing an additional 2,878 shares during the period.

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Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on the discovery, development, and commercialization of novel immunotherapies for the treatment of diseases in the neuroscience and orphan categories. The company is developing antibody-based product candidates that include NEOD001, a monoclonal antibody that is in Phase III and Phase IIb clinical trials for the treatment of AL amyloidosis; PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a monoclonal antibody that is under preclinical development for the treatment of ATTR Amyloidosis.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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