Prothena (NASDAQ:PRTA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Prothena (NASDAQ:PRTA) had its price target raised by equities research analysts at Royal Bank Of Canada from $10.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 4.07% from the company’s previous close.

PRTA has been the topic of a number of other reports. HC Wainwright boosted their price objective on Prothena from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Piper Sandler boosted their price target on shares of Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Chardan Capital restated a “buy” rating and set a $18.00 price target on shares of Prothena in a research note on Thursday, August 28th. UBS Group set a $36.00 price objective on shares of Prothena in a report on Tuesday, October 28th. Finally, JMP Securities lowered their target price on shares of Prothena from $29.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.78.

Prothena Stock Up 4.9%

Prothena stock traded up $0.49 during trading on Friday, hitting $10.57. The stock had a trading volume of 708,297 shares, compared to its average volume of 979,745. The stock’s 50 day moving average is $9.44 and its two-hundred day moving average is $7.81. Prothena has a 1 year low of $4.32 and a 1 year high of $18.60. The stock has a market cap of $568.98 million, a price-to-earnings ratio of -1.87 and a beta of -0.09.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.08). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The firm had revenue of $2.42 million during the quarter, compared to the consensus estimate of $6.64 million. As a group, equities research analysts anticipate that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Institutional investors and hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc purchased a new position in Prothena during the second quarter worth about $61,000. Tower Research Capital LLC TRC boosted its position in shares of Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 10,815 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Prothena during the 2nd quarter valued at about $85,000. CWM LLC grew its holdings in shares of Prothena by 650.1% during the third quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 8,880 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Prothena in the second quarter worth approximately $101,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

About Prothena

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.