Prothena (NASDAQ:PRTA) Price Target Lowered to $29.00 at JMP Securities

Prothena (NASDAQ:PRTA - Free Report) had its price target trimmed by JMP Securities from $78.00 to $29.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the biotechnology company's stock.

A number of other analysts also recently issued reports on PRTA. HC Wainwright decreased their target price on Prothena from $30.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. Jefferies Financial Group lowered Prothena from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a report on Tuesday. Piper Sandler boosted their price objective on Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald lowered shares of Prothena from an "overweight" rating to a "neutral" rating in a research report on Tuesday. Finally, Chardan Capital reduced their target price on Prothena from $40.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday. 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 an average rating of "Hold" and a consensus target price of $31.50.

Prothena Stock Up 0.4%

Prothena stock traded up $0.02 during mid-day trading on Tuesday, reaching $4.60. 6,235,293 shares of the company's stock were exchanged, compared to its average volume of 661,731. The business's fifty day simple moving average is $9.21 and its 200 day simple moving average is $12.66. Prothena has a one year low of $4.32 and a one year high of $25.42. The firm has a market capitalization of $247.60 million, a PE ratio of -2.00 and a beta of 0.11.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (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 analysts' expectations of $8.18 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company's revenue for the quarter was up 5500.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.34) EPS. On average, sell-side analysts forecast that Prothena will post -4.04 earnings per share for the current year.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC boosted its position 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 acquiring an additional 833 shares during the last quarter. GAMMA Investing LLC increased its holdings in Prothena by 4,626.0% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after acquiring an additional 5,875 shares during the last quarter. Headlands Technologies LLC lifted its stake in Prothena by 196.5% in the 4th 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 in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena in the 1st quarter worth $126,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Prothena during the 4th quarter valued at about $145,000. 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.