Prothena (NASDAQ:PRTA) Price Target Raised to $30.00

Prothena (NASDAQ:PRTA) had its price target increased by analysts at HC Wainwright from $20.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 184.09% from the company’s previous close.

A number of other analysts also recently weighed in on PRTA. Royal Bank Of Canada upped their target price on Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a research report on Friday. Chardan Capital reiterated a “buy” rating and set a $18.00 price objective on shares of Prothena in a research note on Thursday, August 28th. UBS Group set a $36.00 target price on shares of Prothena in a report on Tuesday, October 28th. Piper Sandler increased their price target on shares of Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prothena in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.78.

Prothena Price Performance

PRTA traded up $0.48 during trading on Friday, hitting $10.56. The stock had a trading volume of 927,122 shares, compared to its average volume of 981,448. The firm has a market cap of $568.44 million, a price-to-earnings ratio of -1.87 and a beta of -0.09. The company has a 50 day moving average price of $9.44 and a 200-day moving average price of $7.81. Prothena has a one year low of $4.32 and a one year high of $18.60.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The business had revenue of $2.42 million during the quarter, compared to the consensus estimate of $6.64 million. As a group, sell-side analysts predict that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRTA. Prospera Financial Services Inc bought a new stake in Prothena during the 2nd quarter worth $61,000. Tower Research Capital LLC TRC boosted its stake in shares of Prothena by 571.0% during the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 10,815 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Prothena during the second quarter worth about $85,000. CWM LLC increased its stake in shares of Prothena by 650.1% in the third quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 8,880 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Prothena in the second quarter valued at about $101,000. 97.08% of the stock is currently owned by institutional investors.

Prothena Company Profile

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.