Cantor Fitzgerald Reaffirms “Overweight” Rating for Prothena (NASDAQ:PRTA)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Prothena (NASDAQ:PRTA) in a research note issued to investors on Friday morning,Benzinga reports.

A number of other research firms have also weighed in on PRTA. Chardan Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Prothena in a research note on Friday. Oppenheimer lifted their price target on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America dropped their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of Prothena in a report on Friday. Finally, StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Prothena presently has an average rating of “Moderate Buy” and an average price target of $45.83.

Prothena Price Performance

Shares of NASDAQ PRTA opened at $15.56 on Friday. The stock has a market capitalization of $837.27 million, a PE ratio of -6.77 and a beta of 0.08. Prothena has a one year low of $11.70 and a one year high of $31.03. The business’s fifty day moving average price is $14.33 and its 200-day moving average price is $16.76.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data 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 business had revenue of $2.12 million for the quarter, compared to analysts’ expectations 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, equities analysts expect that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Trading of Prothena

Several institutional investors and hedge funds have recently modified their holdings of PRTA. Wellington Management Group LLP increased its position in shares of Prothena by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 5,130,876 shares of the biotechnology company’s stock worth $71,063,000 after purchasing an additional 952,088 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Prothena during the fourth quarter valued at approximately $9,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prothena by 1,122.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after buying an additional 483,673 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Prothena by 84.3% in the 4th quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company’s stock worth $10,335,000 after buying an additional 341,274 shares during the last quarter. Finally, Finepoint Capital LP raised its position in shares of Prothena by 51.6% during the 4th quarter. Finepoint Capital LP now owns 657,071 shares of the biotechnology company’s stock valued at $9,100,000 after buying an additional 223,600 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.