Prothena (NASDAQ:PRTA) Earns Buy Rating from Chardan Capital

Prothena (NASDAQ:PRTA)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $40.00 target price on the biotechnology company’s stock. Chardan Capital’s price objective suggests a potential upside of 438.36% from the company’s current price.

A number of other brokerages have also recently weighed in on PRTA. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of Prothena in a research note on Friday, February 21st. Piper Sandler boosted their target price on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.71.

Prothena Stock Up 4.6 %

PRTA opened at $7.43 on Friday. Prothena has a 52 week low of $6.92 and a 52 week high of $25.42. The business has a fifty day simple moving average of $11.10 and a 200-day simple moving average of $13.58. The firm has a market cap of $399.93 million, a P/E ratio of -3.23 and a beta of 0.11.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.20). The firm had revenue of $2.83 million for the quarter, compared to analysts’ expectations of $8.18 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business’s revenue was up 5500.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.34) earnings per share. Sell-side analysts expect that Prothena will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

Institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its stake in Prothena by 29.6% in the first quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company’s stock valued at $180,000 after purchasing an additional 3,315 shares during the last quarter. DCF Advisers LLC boosted its holdings in shares of Prothena by 88.4% in the 1st quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company’s stock valued at $2,413,000 after buying an additional 91,500 shares in the last quarter. Purkiss Capital Advisors LLC grew its position in shares of Prothena by 101.6% in the 1st quarter. Purkiss Capital Advisors LLC now owns 21,629 shares of the biotechnology company’s stock valued at $268,000 after buying an additional 10,900 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Prothena during the 1st quarter worth $126,000. Finally, Duncan Williams Asset Management LLC lifted its position in Prothena by 27.7% in the first quarter. Duncan Williams Asset Management LLC now owns 88,339 shares of the biotechnology company’s stock valued at $1,093,000 after acquiring an additional 19,140 shares during the last quarter. 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.