HC Wainwright Lowers Prothena (NASDAQ:PRTA) Price Target to $14.00

Prothena (NASDAQ:PRTA - Free Report) had its price target trimmed by HC Wainwright from $30.00 to $14.00 in a report published on Tuesday,Benzinga reports. The brokerage 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 brokerages also recently weighed in on PRTA. Cantor Fitzgerald raised shares of Prothena to a "strong-buy" rating in a research note on Tuesday, May 13th. Piper Sandler upped their price target on shares of Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Chardan Capital dropped their target price on shares of Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday. Oppenheimer increased 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. Finally, JMP Securities lowered their price target on shares of Prothena from $80.00 to $78.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Prothena currently has an average rating of "Hold" and a consensus price target of $31.50.

Prothena Stock Up 2.2%

Prothena stock traded up $0.10 during mid-day trading on Tuesday, reaching $4.70. 5,378,265 shares of the company's stock traded hands, compared to its average volume of 681,430. The company has a market cap of $252.99 million, a price-to-earnings ratio of -2.04 and a beta of 0.11. The stock has a 50 day moving average of $9.21 and a two-hundred day moving average of $12.66. Prothena has a 12-month low of $4.32 and a 12-month high of $25.42.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.20). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business 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 company earned ($1.34) EPS. Prothena's revenue for the quarter was up 5500.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Prothena will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRTA. Siren L.L.C. raised its position in Prothena by 16.7% during the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock worth $15,884,000 after buying an additional 183,715 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Prothena in the 1st quarter valued at $230,000. Birchview Capital LP grew its holdings in shares of Prothena by 9.3% during the first quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company's stock worth $4,121,000 after buying an additional 28,400 shares in the last quarter. PDT Partners LLC grew its holdings in shares of Prothena by 18.2% during the first quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company's stock worth $1,860,000 after buying an additional 23,113 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Prothena by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company's stock worth $64,344,000 after buying an additional 68,652 shares in the last quarter. 97.08% of the stock is currently 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.