Prothena (NASDAQ:PRTA) Price Target Cut to $81.00 by Analysts at Piper Sandler

Prothena (NASDAQ:PRTA) had its price objective decreased by analysts at Piper Sandler from $110.00 to $81.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock.

PRTA has been the subject of a number of other research reports. HC Wainwright decreased their price objective on shares of Prothena from $30.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Royal Bank of Canada cut their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Chardan Capital reduced their price target on Prothena from $40.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. JMP Securities dropped their price objective on Prothena from $78.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group cut Prothena from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.50.

Prothena Trading Up 0.4%

Shares of NASDAQ:PRTA opened at $4.60 on Tuesday. Prothena has a 12-month low of $4.32 and a 12-month high of $25.42. The business has a 50 day moving average of $9.21 and a two-hundred day moving average of $12.66. The company has a market capitalization of $247.60 million, a PE ratio of -2.00 and a beta of 0.11.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm had revenue of $2.83 million for the quarter, compared to analysts’ expectations of $8.18 million. During the same period last year, the firm earned ($1.34) earnings per share. Prothena’s revenue for the quarter was up 5500.0% compared to the same quarter last year. Equities research analysts predict that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several institutional investors have recently bought and sold shares of PRTA. SG Americas Securities LLC raised its holdings in shares of Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock valued at $521,000 after acquiring an additional 23,525 shares during the last quarter. Barclays PLC increased its position in shares of 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 in the last quarter. Deutsche Bank AG raised its stake in Prothena by 195.7% in the 4th quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company’s stock valued at $1,329,000 after purchasing an additional 63,512 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Prothena in the 4th quarter valued at $1,117,000. Finally, Rhumbline Advisers lifted its holdings in Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

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.