Prothena (NASDAQ:PRTA) Lowered to Neutral Rating by Cantor Fitzgerald

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

Several other equities research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Jefferies Financial Group downgraded shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target on the stock. in a research report on Tuesday. JMP Securities dropped their price target on shares of Prothena from $80.00 to $78.00 and set a "market outperform" rating on the stock in a research report on Friday, May 9th. Finally, Chardan Capital dropped their price target on shares of Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $31.50.

Prothena Trading Up 2.2%

NASDAQ:PRTA traded up $0.10 during mid-day trading on Tuesday, hitting $4.70. 5,378,265 shares of the company's stock were exchanged, compared to its average volume of 681,430. The company has a 50 day simple moving average of $9.21 and a 200-day simple moving average of $12.66. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $25.42. The firm has a market capitalization of $252.99 million, a P/E ratio of -2.04 and a beta of 0.11.

Prothena (NASDAQ:PRTA - Get Free Report) last posted 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). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the prior year, the business earned ($1.34) earnings per share. The firm's quarterly revenue was up 5500.0% on a year-over-year basis. As a group, analysts expect that Prothena will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Prothena by 167.0% during 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 period. Barclays PLC lifted its position in shares of Prothena by 10.6% during the 4th quarter. Barclays PLC now owns 105,338 shares of the biotechnology company's stock valued at $1,458,000 after acquiring an additional 10,116 shares during the period. Deutsche Bank AG increased its stake in Prothena by 195.7% during the 4th quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company's stock valued at $1,329,000 after purchasing an additional 63,512 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Prothena during the 4th quarter valued at $1,117,000. Finally, Rhumbline Advisers increased 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 purchasing an additional 1,175 shares in the last quarter. Institutional investors and hedge funds 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.