Prothena (NASDAQ:PRTA) Lowered to Sell Rating by StockNews.com

Prothena (NASDAQ:PRTA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other research firms also recently commented on PRTA. Royal Bank of Canada decreased their price objective on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Bank of America lowered their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $84.00 price objective on shares of Prothena in a report on Wednesday, November 13th. Oppenheimer decreased their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Prothena has an average rating of “Moderate Buy” and an average price target of $61.86.

Prothena Price Performance

Shares of Prothena stock traded up $0.54 during trading on Tuesday, reaching $14.05. 550,998 shares of the company traded hands, compared to its average volume of 582,869. The firm has a market capitalization of $756.03 million, a PE ratio of -5.67 and a beta of 0.16. Prothena has a 1-year low of $13.22 and a 1-year high of $41.54. The company has a 50 day moving average price of $17.92 and a 200-day moving average price of $20.20.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was down 98.9% on a year-over-year basis. Equities research analysts expect that Prothena will post -2.29 earnings per share for the current year.

Hedge Funds Weigh In On Prothena

Several hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 49,916 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after purchasing an additional 739 shares during the period. XTX Topco Ltd bought a new stake in shares of Prothena during the 3rd quarter worth $260,000. Wellington Management Group LLP boosted its holdings in shares of Prothena by 14.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after buying an additional 539,359 shares during the last quarter. Finally, PDT Partners LLC grew its position in Prothena by 7.7% during the third quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock valued at $1,851,000 after buying an additional 7,946 shares during the period. 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.