Prothena’s (PRTA) “Buy” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Prothena (NASDAQ:PRTA) in a report issued on Sunday. The brokerage currently has a $65.00 price target on the biotechnology company’s stock.

“Friday’s announcement that the CMO will resign her position may have created some disconcerting optics, but lacking any definitive details, we caution against over-interpreting the disclosure.”,” the firm’s analyst commented.

PRTA has been the topic of a number of other reports. Oppenheimer set a $70.00 target price on Prothena and gave the stock a buy rating in a research note on Monday, December 4th. Deutsche Bank set a $73.00 target price on Prothena and gave the stock a buy rating in a research note on Monday, October 23rd. Wedbush cut Prothena from an outperform rating to a neutral rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Monday, November 20th. ValuEngine cut Prothena from a hold rating to a sell rating in a research note on Friday, December 15th. Finally, Zacks Investment Research cut Prothena from a hold rating to a sell rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $75.58.

Shares of Prothena (PRTA) opened at $39.00 on Friday. The firm has a market capitalization of $1,522.49, a price-to-earnings ratio of -9.36 and a beta of 2.67. Prothena has a 12 month low of $34.85 and a 12 month high of $70.00.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. The company had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.28 million. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.26) earnings per share. analysts predict that Prothena will post -4.27 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in PRTA. Principal Financial Group Inc. boosted its position in shares of Prothena by 4.3% during the second quarter. Principal Financial Group Inc. now owns 6,808 shares of the biotechnology company’s stock valued at $368,000 after buying an additional 280 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Prothena by 8.3% during the second quarter. TIAA CREF Investment Management LLC now owns 120,603 shares of the biotechnology company’s stock valued at $6,527,000 after buying an additional 9,217 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Prothena by 0.9% during the second quarter. Nationwide Fund Advisors now owns 46,504 shares of the biotechnology company’s stock valued at $2,517,000 after buying an additional 407 shares during the last quarter. BlackRock Inc. boosted its position in shares of Prothena by 7.8% during the second quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock valued at $159,519,000 after buying an additional 213,578 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Prothena by 11.2% during the second quarter. Amalgamated Bank now owns 4,731 shares of the biotechnology company’s stock valued at $256,000 after buying an additional 476 shares during the last quarter.

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Prothena Company Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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