Prothena (NASDAQ:PRTA) Price Target Cut to $14.00 by Analysts at HC Wainwright

Prothena (NASDAQ:PRTA - Free Report) had its price target reduced by HC Wainwright from $30.00 to $14.00 in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company's stock. HC Wainwright also issued estimates for Prothena's FY2027 earnings at ($5.44) EPS, FY2028 earnings at ($2.73) EPS and FY2029 earnings at ($3.56) EPS.

Several other analysts have also recently commented on the stock. Oppenheimer upped their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Chardan Capital dropped their price objective on Prothena from $40.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday. Royal Bank of Canada cut their target price on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. JMP Securities reduced their target price on Prothena from $80.00 to $78.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. Finally, Piper Sandler upped their price target on Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.50.

Prothena Trading Down 2.3%

Prothena stock traded down $0.11 during mid-day trading on Tuesday, hitting $4.59. The stock had a trading volume of 1,963,387 shares, compared to its average volume of 686,990. The stock has a market capitalization of $247.07 million, a PE ratio of -2.00 and a beta of 0.11. Prothena has a 12 month low of $4.32 and a 12 month high of $25.42. The stock has a 50-day simple moving average of $8.88 and a two-hundred day simple moving average of $12.48.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly 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). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the prior year, the firm earned ($1.34) EPS. The firm's quarterly revenue was up 5500.0% compared to the same quarter last year. Sell-side analysts expect that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several large investors have recently made changes to their positions in PRTA. Wellington Management Group LLP boosted its stake in Prothena by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company's stock worth $64,344,000 after purchasing an additional 68,652 shares during the period. Vanguard Group Inc. grew its holdings in shares of Prothena by 11.5% during the fourth quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company's stock worth $19,443,000 after buying an additional 144,737 shares in the last quarter. Siren L.L.C. raised its position in Prothena by 16.7% in the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock valued at $15,884,000 after buying an additional 183,715 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Prothena by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 864,833 shares of the biotechnology company's stock valued at $11,980,000 after buying an additional 10,783 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Prothena by 84.3% in the fourth quarter. Federated Hermes Inc. now owns 746,177 shares of the biotechnology company's stock valued at $10,335,000 after purchasing an additional 341,274 shares during the last quarter. Institutional investors own 97.08% of the company's stock.

About Prothena

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.