Cantor Fitzgerald Reiterates "Neutral" Rating for Prothena (NASDAQ:PRTA)

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

Other analysts also recently issued research reports about the stock. Bank of America reaffirmed an "underperform" rating on shares of Prothena in a research note on Wednesday, May 28th. Jefferies Financial Group cut shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price for the company. in a research note on Tuesday, May 27th. Royal Bank Of Canada cut their price objective on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Oppenheimer cut shares of Prothena from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Prothena currently has a consensus rating of "Hold" and a consensus target price of $31.50.

Prothena Trading Up 4.2%

Shares of NASDAQ:PRTA opened at $5.99 on Friday. The company has a market cap of $322.50 million, a price-to-earnings ratio of -2.88 and a beta of -0.08. Prothena has a 12 month low of $4.32 and a 12 month high of $25.42. The company has a 50-day moving average price of $7.15 and a 200 day moving average price of $11.53.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRTA. Virtus ETF Advisers LLC grew its holdings in 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 buying an additional 833 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 5,875 shares during the period. Headlands Technologies LLC increased its position in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock worth $102,000 after purchasing an additional 4,858 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Prothena during the first quarter worth about $126,000. Finally, Teacher Retirement System of Texas purchased a new position in Prothena during the fourth quarter worth about $145,000. 97.08% of the stock is owned by hedge funds and other 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.

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