Wedbush Reaffirms “Outperform” Rating for Prothena Corp. (PRTA)
Prothena Corp. (NASDAQ:PRTA)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Thursday. They presently have a $77.00 target price on the stock. Wedbush’s target price indicates a potential upside of 37.25% from the stock’s current price.
Several other brokerages have also recently issued reports on PRTA. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $65.00 target price on shares of Prothena Corp. in a report on Tuesday, September 27th. Zacks Investment Research cut shares of Prothena Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Barclays PLC lifted their target price on shares of Prothena Corp. from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Prothena Corp. in a report on Monday, July 18th. Finally, Deutsche Bank AG began coverage on shares of Prothena Corp. in a report on Thursday, November 3rd. They issued a “buy” rating and a $73.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.17.
Prothena Corp. (NASDAQ:PRTA) opened at 56.10 on Thursday. The company’s market capitalization is $1.93 billion. Prothena Corp. has a 12-month low of $28.20 and a 12-month high of $76.42. The company has a 50-day moving average of $55.22 and a 200 day moving average of $49.88.
Prothena Corp. (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 1st. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by $0.04. The firm earned $0.29 million during the quarter, compared to analysts’ expectations of $0.49 million. Prothena Corp. had a negative return on equity of 32.65% and a negative net margin of 11,365.41%. Equities research analysts forecast that Prothena Corp. will post ($4.36) earnings per share for the current fiscal year.
In other Prothena Corp. news, insider Karin L. Walker sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $61.10, for a total transaction of $733,200.00. Following the completion of the sale, the insider now directly owns 7,000 shares of the company’s stock, valued at $427,700. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Arthur W. Homan sold 3,125 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.16, for a total transaction of $163,000.00. Following the sale, the insider now directly owns 3,125 shares of the company’s stock, valued at $163,000. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PRTA. Strs Ohio acquired a new stake in shares of Prothena Corp. during the third quarter worth approximately $131,000. BlackRock Inc. boosted its stake in shares of Prothena Corp. by 197.8% in the first quarter. BlackRock Inc. now owns 2,656 shares of the company’s stock worth $110,000 after buying an additional 1,764 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Prothena Corp. by 26.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,740 shares of the company’s stock worth $165,000 after buying an additional 573 shares in the last quarter. Societe Generale acquired a new stake in shares of Prothena Corp. during the second quarter worth approximately $111,000. Finally, HL Financial Services LLC acquired a new stake in shares of Prothena Corp. during the third quarter worth approximately $206,000.
About Prothena Corp.
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 (PRX003).
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