Prothena (NASDAQ:PRTA) Price Target Increased to $54.00 by Analysts at Oppenheimer

Prothena (NASDAQ:PRTA) had its target price upped by Oppenheimer from $45.00 to $54.00 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Prothena’s FY2025 earnings at ($1.50) EPS.

A number of other brokerages have also recently weighed in on PRTA. Cantor Fitzgerald boosted their price objective on shares of Prothena from $43.00 to $62.00 and gave the stock an overweight rating in a research note on Tuesday. Royal Bank of Canada upgraded shares of Prothena from a sector perform rating to an outperform rating and boosted their price objective for the stock from $14.00 to $28.00 in a research note on Friday, February 26th. Citigroup initiated coverage on shares of Prothena in a research note on Wednesday, May 26th. They issued a buy rating for the company. Zacks Investment Research upgraded shares of Prothena from a sell rating to a hold rating and set a $24.00 price objective for the company in a research note on Wednesday, February 17th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Prothena in a research note on Wednesday, May 26th. They issued a buy rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $41.50.

NASDAQ PRTA opened at $44.52 on Tuesday. The firm has a market capitalization of $1.97 billion, a PE ratio of -14.32 and a beta of 1.56. The company has a 50 day simple moving average of $26.14. Prothena has a 12-month low of $9.25 and a 12-month high of $45.62.

Prothena (NASDAQ:PRTA) last posted its earnings results on Monday, May 10th. The biotechnology company reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.11). Prothena had a negative net margin of 14,255.73% and a negative return on equity of 57.65%. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.17 million. As a group, equities research analysts anticipate that Prothena will post -1.69 earnings per share for the current fiscal year.

In related news, major shareholder Ecor1 Capital, Llc bought 875,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 24th. The stock was purchased at an average cost of $20.75 per share, for a total transaction of $18,156,250.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 30.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PRTA. E Fund Management Co. Ltd. bought a new stake in Prothena in the 1st quarter valued at $43,000. Citigroup Inc. increased its holdings in Prothena by 160.5% in the 4th quarter. Citigroup Inc. now owns 7,572 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 4,665 shares during the period. ProShare Advisors LLC increased its holdings in Prothena by 27.2% in the 4th quarter. ProShare Advisors LLC now owns 12,974 shares of the biotechnology company’s stock valued at $156,000 after buying an additional 2,771 shares during the period. SG Americas Securities LLC bought a new stake in Prothena in the 4th quarter valued at $161,000. Finally, Royal Bank of Canada increased its holdings in Prothena by 171.0% in the 1st quarter. Royal Bank of Canada now owns 6,860 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 4,329 shares during the period. 90.50% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase 2 clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, an antibody that is in Phase 1 clinical trial for the treatment of ATTR amyloidosis.

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