Prothena (NASDAQ:PRTA) Lifted to Sell at ValuEngine

Prothena (NASDAQ:PRTA) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

A number of other brokerages have also commented on PRTA. Nomura restated a “buy” rating and issued a $19.00 price target on shares of Prothena in a report on Wednesday, January 1st. Zacks Investment Research lowered Prothena from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Wednesday, October 23rd. Evercore ISI reaffirmed a “buy” rating and issued a $14.00 target price on shares of Prothena in a research report on Sunday, December 22nd. Finally, BidaskClub raised Prothena from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Prothena currently has an average rating of “Hold” and an average price target of $13.35.

PRTA stock traded up $0.29 during midday trading on Tuesday, hitting $15.52. 3,004 shares of the company’s stock were exchanged, compared to its average volume of 271,144. The stock’s fifty day moving average price is $14.28 and its 200-day moving average price is $10.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 12.88 and a current ratio of 12.88. The company has a market cap of $619.25 million, a PE ratio of -4.30 and a beta of 2.34. Prothena has a one year low of $6.71 and a one year high of $17.63.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.05. The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.15 million. Prothena had a negative return on equity of 26.02% and a negative net margin of 10,450.00%. On average, analysts expect that Prothena will post -2 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Prothena by 0.5% in the second quarter. BlackRock Inc. now owns 3,351,908 shares of the biotechnology company’s stock valued at $35,431,000 after acquiring an additional 17,619 shares during the last quarter. Orbimed Advisors LLC increased its position in shares of Prothena by 25.9% in the second quarter. Orbimed Advisors LLC now owns 3,065,278 shares of the biotechnology company’s stock valued at $32,400,000 after acquiring an additional 630,000 shares during the last quarter. Great Point Partners LLC increased its position in shares of Prothena by 23.3% in the third quarter. Great Point Partners LLC now owns 2,066,041 shares of the biotechnology company’s stock valued at $16,198,000 after acquiring an additional 389,791 shares during the last quarter. Millennium Management LLC increased its position in shares of Prothena by 376.2% in the third quarter. Millennium Management LLC now owns 1,228,476 shares of the biotechnology company’s stock valued at $9,631,000 after acquiring an additional 970,503 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Prothena by 0.7% in the second quarter. Vanguard Group Inc. now owns 813,376 shares of the biotechnology company’s stock valued at $8,597,000 after acquiring an additional 5,817 shares during the last quarter. 93.97% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Balanced Fund

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