Prothena (NASDAQ:PRTA) Price Target Raised to $110.00

Prothena (NASDAQ:PRTA) had its price objective hoisted by Piper Sandler from $94.00 to $110.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on PRTA. HC Wainwright reiterated a “buy” rating and set a $48.00 target price on shares of Prothena in a research note on Friday, February 21st. Bank of America dropped their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Finally, Chardan Capital reissued a “buy” rating and issued a $40.00 price objective on shares of Prothena in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Price Performance

PRTA stock opened at $15.81 on Wednesday. Prothena has a one year low of $11.70 and a one year high of $30.85. The stock has a market cap of $850.72 million, a price-to-earnings ratio of -6.87 and a beta of 0.08. The company has a fifty day moving average price of $14.43 and a two-hundred day moving average price of $16.66.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The company had revenue of $2.12 million for the quarter, compared to the consensus estimate of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. Research analysts anticipate that Prothena will post -4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Portfolio Solutions LLC increased its stake in Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after acquiring an additional 739 shares during the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after buying an additional 1,065 shares in the last quarter. Rhumbline Advisers boosted its stake in Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after buying an additional 1,175 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Prothena by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after buying an additional 1,551 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

About Prothena

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.