Prothena (NASDAQ:PRTA) Upgraded to “Buy” at BidaskClub

Prothena (NASDAQ:PRTA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

PRTA has been the topic of several other reports. Zacks Investment Research downgraded Prothena from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Wednesday, October 23rd. ValuEngine cut Prothena from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Finally, Evercore ISI upgraded Prothena from an “in-line” rating to an “outperform” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.94.

PRTA stock opened at $12.43 on Wednesday. The company has a fifty day moving average price of $9.82 and a 200-day moving average price of $9.20. The company has a market capitalization of $511.47 million, a P/E ratio of -3.44 and a beta of 2.31. Prothena has a 52-week low of $6.71 and a 52-week high of $14.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 12.88 and a current ratio of 12.88.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.05. The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.15 million. Prothena had a negative net margin of 10,450.00% and a negative return on equity of 26.02%. As a group, sell-side analysts forecast that Prothena will post -2 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of PRTA. Bank of Montreal Can bought a new position in Prothena during the second quarter worth $36,000. Meeder Asset Management Inc. bought a new stake in Prothena during the second quarter valued at $37,000. Focused Wealth Management Inc grew its holdings in Prothena by 30.2% during the 3rd quarter. Focused Wealth Management Inc now owns 13,576 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 3,150 shares during the period. Prudential Financial Inc. acquired a new stake in Prothena during the 2nd quarter worth about $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Prothena in the 2nd quarter worth about $205,000. 93.97% of the stock is currently owned by institutional investors.

Prothena Company Profile

Prothena Corporation plc, a clinical-stage neuroscience company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.

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