Citizens Jmp Forecasts Strong Price Appreciation for Prothena (NASDAQ:PRTA) Stock

Prothena (NASDAQ:PRTA) had its target price increased by stock analysts at Citizens Jmp from $11.00 to $19.00 in a report released on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s target price would suggest a potential upside of 83.57% from the stock’s current price.

Several other analysts also recently commented on the company. UBS Group set a $36.00 target price on Prothena in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prothena in a research report on Monday, November 24th. Chardan Capital raised Prothena to a “strong-buy” rating in a research report on Wednesday, November 19th. Citigroup restated a “market outperform” rating on shares of Prothena in a research note on Monday. Finally, HC Wainwright raised their price target on shares of Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.27.

Prothena Stock Performance

NASDAQ:PRTA opened at $10.35 on Monday. The firm has a market cap of $557.14 million, a P/E ratio of -1.84 and a beta of -0.10. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $17.66. The firm has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $8.06.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $2.42 million during the quarter, compared to the consensus estimate of $6.64 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. On average, equities research analysts predict that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC raised its holdings in Prothena by 29.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company’s stock worth $180,000 after purchasing an additional 3,315 shares during the period. Nuveen LLC bought a new stake in Prothena during the first quarter valued at about $1,856,000. American Century Companies Inc. increased its position in Prothena by 14.6% in the first quarter. American Century Companies Inc. now owns 34,836 shares of the biotechnology company’s stock worth $431,000 after buying an additional 4,437 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Prothena by 1.3% in the first quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock worth $64,344,000 after buying an additional 68,652 shares during the period. Finally, Siren L.L.C. raised its stake in shares of Prothena by 16.7% in the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock worth $15,884,000 after buying an additional 183,715 shares during the period. Hedge funds and other institutional investors 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.