Prothena (NASDAQ:PRTA) Given New $29.00 Price Target at JMP Securities

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

PRTA has been the topic of several other reports. Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a research note on Tuesday. HC Wainwright dropped their price objective on Prothena from $30.00 to $14.00 and set a "buy" rating on the stock 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 report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Finally, Wall Street Zen raised shares of Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. One 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's stock. According to data from MarketBeat.com, Prothena currently has a consensus rating of "Hold" and an average price target of $31.50.

Prothena Stock Down 2.3%

Shares of Prothena stock traded down $0.11 on Tuesday, reaching $4.59. 1,963,387 shares of the stock were exchanged, compared to its average volume of 686,990. The business has a 50 day moving average price of $8.88 and a two-hundred day moving average price of $12.48. The firm has a market capitalization of $247.07 million, a price-to-earnings ratio of -2.00 and a beta of 0.11. Prothena has a twelve month low of $4.32 and a twelve month high of $25.42.

Prothena (NASDAQ:PRTA - Get Free Report) last announced 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). The company had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The company's revenue was up 5500.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.34) earnings per share. Research analysts forecast that Prothena will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC grew its holdings 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 buying an additional 833 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted 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 acquiring an additional 1,065 shares during the last quarter. Rhumbline Advisers grew its stake in Prothena by 1.8% during the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock valued at $930,000 after acquiring an additional 1,175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 1,551 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Prothena by 4.0% in the 4th quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company's stock worth $593,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors and hedge funds 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.