Prothena (NASDAQ:PRTA) Upgraded at Cantor Fitzgerald

Prothena (NASDAQ:PRTA - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued on Tuesday, May 13th,Zacks.com reports. Cantor Fitzgerald also issued estimates for Prothena's FY2025 earnings at ($3.59) EPS.

Several other brokerages also recently commented on PRTA. Oppenheimer lifted their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Piper Sandler increased their target price on Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Chardan Capital reissued a "buy" rating and set a $40.00 price target on shares of Prothena in a report on Friday, May 9th. Finally, Royal Bank of Canada decreased their price objective on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Prothena has an average rating of "Moderate Buy" and a consensus target price of $51.71.

Prothena Stock Up 1.3%

Shares of NASDAQ PRTA traded up $0.10 during midday trading on Tuesday, hitting $7.50. 558,000 shares of the company's stock were exchanged, compared to its average volume of 587,442. The firm has a market capitalization of $403.43 million, a PE ratio of -3.27 and a beta of 0.11. Prothena has a 12 month low of $6.47 and a 12 month high of $25.42. The company's 50 day moving average price is $10.21 and its 200 day moving average price is $13.15.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. During the same period last year, the firm earned ($1.34) earnings per share. The company's revenue for the quarter was up 5500.0% compared to the same quarter last year. On average, equities research analysts anticipate that Prothena will post -4.04 EPS for the current year.

Hedge Funds Weigh In On Prothena

Hedge funds have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC lifted its position in shares of Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 833 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Prothena by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company's stock worth $158,000 after purchasing an additional 1,065 shares during the period. Rhumbline Advisers grew its stake in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after buying an additional 1,175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Prothena by 6.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company's stock valued at $381,000 after buying an additional 1,551 shares during the period. Finally, Invesco Ltd. increased its holdings in Prothena by 4.0% in the 4th quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company's stock valued at $593,000 after buying an additional 1,632 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.