Prothena (NASDAQ:PRTA) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other equities analysts have also weighed in on the company. Wedbush lowered Prothena from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $55.00 in a report on Monday, November 20th. Oppenheimer restated a “buy” rating and set a $70.00 target price on shares of Prothena in a research report on Thursday, November 9th. Deutsche Bank set a $73.00 target price on Prothena and gave the stock a “buy” rating in a research report on Monday, October 23rd. ValuEngine downgraded Prothena from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $65.00 target price on shares of Prothena in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $75.58.

Shares of Prothena (NASDAQ:PRTA) traded up $1.71 during midday trading on Thursday, reaching $41.33. The company’s stock had a trading volume of 484,159 shares, compared to its average volume of 310,274. Prothena has a 1-year low of $34.85 and a 1-year high of $70.00. The company has a market capitalization of $1,589.01, a price-to-earnings ratio of -9.77 and a beta of 2.43.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, beating the consensus estimate of ($1.41) by $0.04. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company earned ($1.26) earnings per share. Prothena’s revenue was down 33.6% compared to the same quarter last year. research analysts anticipate that Prothena will post -4.27 EPS for the current year.

Several large investors have recently bought and sold shares of PRTA. Fieldpoint Private Securities LLC purchased a new stake in shares of Prothena in the third quarter worth $162,000. California Public Employees Retirement System raised its position in shares of Prothena by 1.8% in the third quarter. California Public Employees Retirement System now owns 60,700 shares of the biotechnology company’s stock worth $3,932,000 after buying an additional 1,100 shares in the last quarter. Sectoral Asset Management Inc raised its position in shares of Prothena by 29.7% in the third quarter. Sectoral Asset Management Inc now owns 195,909 shares of the biotechnology company’s stock worth $12,689,000 after buying an additional 44,863 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Prothena by 5.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 172,578 shares of the biotechnology company’s stock worth $11,178,000 after buying an additional 8,897 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Prothena by 15.0% in the third quarter. Legal & General Group Plc now owns 15,761 shares of the biotechnology company’s stock worth $1,020,000 after buying an additional 2,053 shares in the last quarter.

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About Prothena

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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