Prothena (NASDAQ:PRTA) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Prothena (NASDAQ:PRTA) in a research report report published on Friday morning,Benzinga reports.

A number of other research analysts have also weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of Prothena in a report on Friday. HC Wainwright restated a “buy” rating and issued a $48.00 price objective on shares of Prothena in a research report on Friday. Bank of America decreased their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Oppenheimer upped their price target on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and an average target price of $45.83.

Prothena Stock Performance

Shares of PRTA stock opened at $15.56 on Friday. The firm’s 50 day moving average is $14.33 and its 200 day moving average is $16.80. Prothena has a 12 month low of $11.70 and a 12 month high of $31.03.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The company had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. On average, equities research analysts predict that Prothena will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTA. Virtus ETF Advisers LLC raised its position in Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Prothena by 196.5% during the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Prothena during the 4th quarter valued at about $145,000. Purkiss Capital Advisors LLC bought a new stake in Prothena in the 4th quarter worth approximately $149,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Prothena by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after buying an additional 1,065 shares in the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

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.