Prothena (NASDAQ:PRTA) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Prothena (NASDAQ:PRTA) from a hold rating to a sell rating in a report released on Tuesday.

Several other brokerages have also commented on PRTA. Oppenheimer dropped their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada dropped their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $84.00 price target on shares of Prothena in a research note on Wednesday, November 13th. Bank of America dropped their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prothena has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Prothena Stock Up 1.1 %

PRTA opened at $14.60 on Tuesday. The firm has a market cap of $785.63 million, a price-to-earnings ratio of -5.81 and a beta of 0.16. Prothena has a fifty-two week low of $13.22 and a fifty-two week high of $41.54. The company’s 50-day moving average price is $17.66 and its 200 day moving average price is $20.12.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. Prothena’s quarterly revenue was down 98.9% on a year-over-year basis. Research analysts anticipate that Prothena will post -2.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after buying an additional 4,026 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Prothena by 8.9% during the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock worth $281,000 after buying an additional 932 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Prothena during the third quarter worth approximately $210,000. 97.08% of the stock is currently owned by institutional investors.

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.