Prothena (NASDAQ:PRTA) Downgraded to Hold Rating by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Prothena (NASDAQ:PRTA) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat reports. They currently have $6.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on PRTA. Oppenheimer cut shares of Prothena from an “outperform” rating to a “market perform” rating in a research report on Tuesday. HC Wainwright cut their target price on shares of Prothena from $30.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Wall Street Zen upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Chardan Capital cut their price objective on shares of Prothena from $40.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, JMP Securities cut their price objective on shares of Prothena from $80.00 to $78.00 and set a “market outperform” rating for the company in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.50.

Prothena Trading Down 30.4%

Shares of PRTA opened at $4.58 on Tuesday. The stock has a market cap of $246.53 million, a P/E ratio of -1.99 and a beta of 0.11. The company has a 50-day moving average of $9.38 and a two-hundred day moving average of $12.72. Prothena has a 12-month low of $4.45 and a 12-month high of $25.42.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.20). The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business’s revenue was up 5500.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.34) EPS. As a group, analysts forecast that Prothena will post -4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of institutional investors have recently modified their holdings of PRTA. SG Americas Securities LLC increased its position in Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after purchasing an additional 23,525 shares during the last quarter. Barclays PLC increased its position in Prothena by 10.6% during the fourth quarter. Barclays PLC now owns 105,338 shares of the biotechnology company’s stock worth $1,458,000 after purchasing an additional 10,116 shares during the last quarter. Deutsche Bank AG increased its position in Prothena by 195.7% during the fourth quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company’s stock worth $1,329,000 after purchasing an additional 63,512 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Prothena during the fourth quarter worth approximately $1,117,000. Finally, Rhumbline Advisers increased its position in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock worth $930,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Company Profile

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.