Prothena (NASDAQ:PRTA) Given New $20.00 Price Target at Citizens Jmp

Key Points

• Citizens Jmp raised its price target on Prothena from $19 to $20 and maintained a "market outperform" rating, implying roughly an 84.6% upside from the current share price.
• PRTA traded at $10.84 (up 3.0%) with a market cap of about $583M; the company remains loss-making—quarterly EPS of ($0.44) slightly beat estimates while revenue was only $0.02M versus $0.67M expected.
• Institutional ownership is very high at 97.08%, with recent stake increases by Dimensional Fund Advisors, Bank of New York Mellon and a large buy by HSBC, plus new positions from Chicago Trust and Penbrook Management.

Prothena (NASDAQ:PRTA - Get Free Report) had its target price increased by stock analysts at Citizens Jmp from $19.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the biotechnology company's stock. Citizens Jmp's price target would suggest a potential upside of 84.57% from the stock's current price.

A number of other equities research analysts have also commented on PRTA. Citigroup reissued an "outperform" rating on shares of Prothena in a research report on Friday. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research note on Friday, March 13th. Royal Bank Of Canada raised their price target on shares of Prothena from $11.00 to $12.00 and gave the company a "sector perform" rating in a research report on Friday, February 20th. Finally, Weiss Ratings cut shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.78.

Prothena Trading Up 3.0%

NASDAQ PRTA traded up $0.32 during trading hours on Friday, hitting $10.84. The company's stock had a trading volume of 286,145 shares, compared to its average volume of 485,095. The company has a market capitalization of $583.30 million, a PE ratio of -2.39, a price-to-earnings-growth ratio of 0.39 and a beta of -0.23. Prothena has a 52 week low of $4.32 and a 52 week high of $11.80. The company's 50-day simple moving average is $9.92 and its two-hundred day simple moving average is $9.81.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biotechnology company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.01. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.67 million. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,520.57%. Research analysts anticipate that Prothena will post 0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Prothena by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 782,603 shares of the biotechnology company's stock worth $7,606,000 after purchasing an additional 7,396 shares during the period. Bank of New York Mellon Corp grew its position in Prothena by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 136,322 shares of the biotechnology company's stock valued at $1,325,000 after buying an additional 3,622 shares during the period. Hsbc Holdings PLC grew its position in Prothena by 134.6% during the first quarter. Hsbc Holdings PLC now owns 65,070 shares of the biotechnology company's stock valued at $632,000 after buying an additional 37,337 shares during the period. CHICAGO TRUST Co NA purchased a new stake in Prothena during the first quarter worth about $146,000. Finally, Penbrook Management LLC purchased a new stake in Prothena during the first quarter worth about $2,641,000. Institutional investors own 97.08% of the company's stock.

Prothena Company Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.