Prothena (NASDAQ:PRTA) Downgraded by Cantor Fitzgerald to Neutral

Cantor Fitzgerald cut shares of Prothena (NASDAQ:PRTA - Free Report) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat reports.

A number of other research firms have also weighed in on PRTA. HC Wainwright dropped their price objective on Prothena from $30.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday. JMP Securities dropped their price target on Prothena from $80.00 to $78.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Chardan Capital reduced their price objective on shares of Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday. Piper Sandler boosted their target price on shares of Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price target on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $31.50.

Prothena Price Performance

Shares of PRTA stock traded down $0.11 during trading hours on Tuesday, reaching $4.59. 1,963,387 shares of the company traded hands, compared to its average volume of 686,990. The firm has a 50-day moving average price of $8.88 and a 200 day moving average price of $12.48. The company has a market cap of $247.07 million, a P/E 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.

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 for the quarter, missing the consensus estimate of ($0.92) by ($0.20). The firm 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%. Prothena's revenue for the quarter was up 5500.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.34) EPS. Sell-side analysts predict that Prothena will post -4.04 EPS for the current year.

Institutional Trading of Prothena

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of Prothena by 167.0% in the 4th quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock valued at $521,000 after acquiring an additional 23,525 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Prothena during the fourth quarter valued at approximately $159,000. China Universal Asset Management Co. Ltd. raised 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 valued at $158,000 after purchasing an additional 1,065 shares during the period. Focused Wealth Management Inc bought a new stake in shares of Prothena in the 4th quarter valued at approximately $445,000. Finally, Rhumbline Advisers boosted its holdings in shares of Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after purchasing an additional 1,175 shares during the period. 97.08% of the stock is currently owned by 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.