HC Wainwright Lowers Prothena (NASDAQ:PRTA) Price Target to $14.00

Prothena (NASDAQ:PRTA) had its price target reduced by HC Wainwright from $30.00 to $14.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Oppenheimer boosted their target price on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Piper Sandler upped their price target on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald raised Prothena to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Chardan Capital lowered their target price on Prothena from $40.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.50.

Prothena Stock Performance

Prothena stock opened at $4.58 on Tuesday. The firm has a market cap of $246.53 million, a price-to-earnings ratio of -1.99 and a beta of 0.11. Prothena has a 52-week low of $4.45 and a 52-week high of $25.42. The firm has a 50 day moving average price of $9.38 and a two-hundred day moving average price of $12.72.

Prothena (NASDAQ:PRTA) last announced 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). The business had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm’s revenue for the quarter was up 5500.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.34) EPS. As a group, equities research analysts predict that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Virtus ETF Advisers LLC grew its holdings in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC grew its stake in Prothena by 4,626.0% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 5,875 shares in the last quarter. Headlands Technologies LLC lifted its stake in Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 4,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena in the 1st quarter worth approximately $126,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Prothena during the 4th quarter valued at $145,000. 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.