Prothena (NASDAQ:PRTA) Price Target Lowered to $20.00 at Royal Bank of Canada

Prothena (NASDAQ:PRTA) had its target price cut by Royal Bank of Canada from $24.00 to $20.00 in a report published on Friday morning,Benzinga reports. They currently have a sector perform rating on the biotechnology company’s stock.

PRTA has been the topic of several other research reports. Oppenheimer upped their price target on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Chardan Capital restated a “buy” rating and issued a $40.00 price objective on shares of Prothena in a research report on Friday. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. 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 research report on Thursday, December 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Prothena Trading Up 2.0 %

NASDAQ:PRTA opened at $15.56 on Friday. The stock has a market capitalization of $837.27 million, a P/E ratio of -6.77 and a beta of 0.08. Prothena has a 1 year low of $11.70 and a 1 year high of $31.03. The firm has a 50 day moving average of $14.33 and a 200-day moving average of $16.76.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The business had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. As a group, analysts forecast that Prothena will post -4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC boosted its stake in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 833 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares during the period. Teacher Retirement System of Texas bought a new stake in Prothena during the 4th quarter worth approximately $145,000. Purkiss Capital Advisors LLC acquired a new stake in Prothena during the 4th quarter worth approximately $149,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Prothena by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after buying an additional 1,065 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.

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.