Prothena's (PRTA) "Neutral" Rating Reiterated at Cantor Fitzgerald

Prothena (NASDAQ:PRTA - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports.

A number of other equities analysts have also recently issued reports on PRTA. Bank of America restated an "underperform" rating on shares of Prothena in a research note on Wednesday, May 28th. Chardan Capital cut their target price on shares of Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded shares of Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Finally, JMP Securities dropped their target price on shares of Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $31.50.

Prothena Stock Performance

Shares of Prothena stock traded up $0.34 on Friday, reaching $6.06. The stock had a trading volume of 2,452,218 shares, compared to its average volume of 762,309. The business's 50-day moving average price is $6.98 and its two-hundred day moving average price is $11.38. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $25.42. The stock has a market cap of $326.21 million, a P/E ratio of -2.91 and a beta of -0.07.

Prothena (NASDAQ:PRTA - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. Prothena's revenue for the quarter was up 5500.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.34) earnings per share. As a group, equities analysts forecast that Prothena will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prothena

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC lifted its holdings in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC lifted its stake in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after buying an additional 5,875 shares during the period. Headlands Technologies LLC lifted its stake in Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock valued at $102,000 after buying an additional 4,858 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Prothena in the 1st quarter worth $126,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Prothena in the 4th quarter worth $145,000. 97.08% of the stock is owned by institutional investors.

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.