Prothena (NASDAQ:PRTA) Given "Buy" Rating at Chardan Capital

Key Points

• Chardan Capital has reissued a "buy" rating for Prothena (NASDAQ: PRTA) with a price target of $18.00, suggesting a potential upside of 159.37% from the current stock price.
• Securities analysts have shown mixed opinions, with prices targets varying from $14.00 to $81.00, reflecting differing views on the stock's performance.
• Prothena's latest earnings report revealed a loss of ($1.12) EPS, which was below expectations, while revenue surged by 5500.0% year-over-year, but still fell short of analyst predictions.

Prothena (NASDAQ:PRTA - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Chardan Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $18.00 target price on the biotechnology company's stock. Chardan Capital's price objective suggests a potential upside of 134.07% from the company's previous close. Chardan Capital also issued estimates for Prothena's FY2026 earnings at $4.00 EPS.

PRTA has been the topic of a number of other reports. JMP Securities lowered their price target on Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th. Bank of America restated an "underperform" rating on shares of Prothena in a research note on Wednesday, May 28th. Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target for the company. in a research note on Tuesday, May 27th. Cantor Fitzgerald restated a "neutral" rating on shares of Prothena in a research report on Friday, June 20th. Finally, HC Wainwright dropped their target price on shares of Prothena from $30.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.25.

Prothena Trading Down 0.4%

NASDAQ:PRTA traded down $0.03 on Tuesday, reaching $7.69. 921,204 shares of the stock traded hands, compared to its average volume of 973,183. The company has a market capitalization of $413.95 million, a price-to-earnings ratio of -1.36 and a beta of -0.03. Prothena has a 12 month low of $4.32 and a 12 month high of $23.66. The company's fifty day simple moving average is $6.20 and its 200 day simple moving average is $9.67.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.75). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The firm had revenue of $4.42 million for the quarter, compared to the consensus estimate of $5.36 million. Equities analysts anticipate that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several hedge funds and other institutional investors have recently modified their holdings of PRTA. Raymond James Financial Inc. purchased a new stake in Prothena in the 4th quarter worth $182,000. American Century Companies Inc. raised its stake in Prothena by 66.1% during the 4th quarter. American Century Companies Inc. now owns 30,399 shares of the biotechnology company's stock valued at $421,000 after purchasing an additional 12,097 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Prothena in the 4th quarter worth approximately $179,000. Vanguard Group Inc. boosted its stake in Prothena by 11.5% in the 4th quarter. Vanguard Group Inc. now owns 1,403,838 shares of the biotechnology company's stock worth $19,443,000 after purchasing an additional 144,737 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Prothena by 93.7% during the 4th quarter. JPMorgan Chase & Co. now owns 387,350 shares of the biotechnology company's stock valued at $5,365,000 after buying an additional 187,364 shares in the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

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.