Prothena (PRTA) Stock Rating Lowered by BidaskClub

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

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Prothena from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Wedbush downgraded shares of Prothena from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $55.00 in a report on Monday, November 20th. Oppenheimer reaffirmed a “buy” rating and issued a $70.00 price target on shares of Prothena in a report on Thursday, November 9th. Finally, Deutsche Bank set a $73.00 price target on shares of Prothena and gave the company a “buy” rating in a report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. Prothena has a consensus rating of “Buy” and a consensus target price of $75.58.

Shares of Prothena (NASDAQ PRTA) traded up $0.24 on Thursday, reaching $28.19. 982,723 shares of the company’s stock traded hands, compared to its average volume of 682,906. Prothena has a one year low of $27.19 and a one year high of $70.00. The firm has a market capitalization of $1,083.82, a price-to-earnings ratio of -6.66 and a beta of 2.67.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio lifted its stake in shares of Prothena by 69.2% during the third quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 900 shares during the period. Fieldpoint Private Securities LLC purchased a new position in shares of Prothena during the third quarter valued at approximately $162,000. Ameritas Investment Partners Inc. lifted its stake in shares of Prothena by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 250 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Prothena during the third quarter valued at approximately $206,000. Finally, HL Financial Services LLC purchased a new position in shares of Prothena during the third quarter valued at approximately $208,000.

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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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