Prothena (NASDAQ:PRTA) Stock Rating Upgraded by ValuEngine

Prothena (NASDAQ:PRTA) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other research firms have also recently commented on PRTA. Zacks Investment Research cut Prothena from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Wednesday, October 23rd. Nomura restated a “buy” rating and issued a $19.00 price objective on shares of Prothena in a report on Wednesday, January 1st. Evercore ISI restated a “buy” rating and issued a $14.00 price objective on shares of Prothena in a report on Sunday, December 22nd. Finally, BidaskClub upgraded Prothena from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.35.

NASDAQ PRTA traded up $0.29 during trading hours on Tuesday, reaching $15.52. The company had a trading volume of 3,004 shares, compared to its average volume of 271,144. The stock has a 50-day moving average of $14.28 and a 200 day moving average of $10.28. Prothena has a 1-year low of $6.71 and a 1-year high of $17.63. The company has a current ratio of 12.88, a quick ratio of 12.88 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $619.25 million, a P/E ratio of -4.30 and a beta of 2.34.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.05. Prothena had a negative net margin of 10,450.00% and a negative return on equity of 26.02%. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.15 million. As a group, sell-side analysts predict that Prothena will post -2 EPS for the current year.

A number of hedge funds have recently modified their holdings of PRTA. BlackRock Inc. increased its holdings in shares of Prothena by 0.5% during the 2nd quarter. BlackRock Inc. now owns 3,351,908 shares of the biotechnology company’s stock valued at $35,431,000 after acquiring an additional 17,619 shares during the last quarter. Orbimed Advisors LLC lifted its position in shares of Prothena by 25.9% in the 2nd quarter. Orbimed Advisors LLC now owns 3,065,278 shares of the biotechnology company’s stock worth $32,400,000 after acquiring an additional 630,000 shares during the period. Great Point Partners LLC lifted its position in shares of Prothena by 23.3% in the 3rd quarter. Great Point Partners LLC now owns 2,066,041 shares of the biotechnology company’s stock worth $16,198,000 after acquiring an additional 389,791 shares during the period. Millennium Management LLC lifted its position in shares of Prothena by 376.2% in the 3rd quarter. Millennium Management LLC now owns 1,228,476 shares of the biotechnology company’s stock worth $9,631,000 after acquiring an additional 970,503 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Prothena by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 813,376 shares of the biotechnology company’s stock worth $8,597,000 after acquiring an additional 5,817 shares during the period. 93.97% of the stock is currently owned by institutional investors.

About Prothena

Prothena Corporation plc, a clinical-stage neuroscience 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 II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.

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