Prothena (NASDAQ:PRTA) Rating Lowered to "Market Perform" at Oppenheimer

Oppenheimer downgraded shares of Prothena (NASDAQ:PRTA - Free Report) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports.

PRTA has been the topic of several other reports. Cantor Fitzgerald upgraded Prothena to a "strong-buy" rating in a research note on Tuesday, May 13th. HC Wainwright decreased their price target on shares of Prothena from $30.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday. JMP Securities lowered their price objective on shares of Prothena from $80.00 to $78.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Wall Street Zen raised shares of Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Finally, Royal Bank of Canada lowered their target price on Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $31.50.

Prothena Stock Up 2.2%

Shares of Prothena stock traded up $0.10 on Tuesday, hitting $4.70. 5,378,265 shares of the company's stock traded hands, compared to its average volume of 681,430. The stock has a market cap of $252.99 million, a P/E ratio of -2.04 and a beta of 0.11. The firm's 50-day moving average is $9.21 and its 200 day moving average is $12.66. Prothena has a 52-week low of $4.32 and a 52-week high of $25.42.

Prothena (NASDAQ:PRTA - Get Free Report) last released its 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). The business had revenue of $2.83 million for the quarter, compared to analysts' expectations of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business's quarterly revenue was up 5500.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.34) earnings per share. Equities research analysts forecast that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRTA. 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 buying an additional 833 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Prothena by 10.3% during the 4th 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 period. Rhumbline Advisers grew its stake in shares of Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after purchasing an additional 1,175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Prothena by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company's stock worth $381,000 after purchasing an additional 1,551 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Prothena by 4.0% during the fourth quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company's stock valued at $593,000 after purchasing an additional 1,632 shares during the period. 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.