Prothena (NASDAQ:PRTA) Stock Rating Lowered by Oppenheimer

Prothena (NASDAQ:PRTA) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, MarketBeat reports.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald upgraded shares of Prothena to a “strong-buy” rating in a research report on Tuesday, May 13th. JMP Securities lowered 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. Wall Street Zen upgraded Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Chardan Capital decreased their price target on Prothena from $40.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price objective on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Prothena presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Prothena Price Performance

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

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. During the same period last year, the firm earned ($1.34) EPS. The firm’s revenue for the quarter was up 5500.0% compared to the same quarter last year. On average, equities analysts expect that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Virtus ETF Advisers LLC grew its holdings in shares of Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 833 shares during the last quarter. GAMMA Investing LLC grew its holdings in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 5,875 shares during the last quarter. Headlands Technologies LLC increased its position in Prothena by 196.5% in the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 4,858 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Prothena during the first quarter valued at $126,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Prothena during the fourth quarter worth $145,000. 97.08% of the stock is currently owned by 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.