ValuEngine cut shares of Prothena (NASDAQ:PRTA) from a sell rating to a strong sell rating in a report issued on Wednesday.

A number of other equities research analysts also recently commented on the company. Cantor Fitzgerald reiterated a buy rating and set a $65.00 price objective on shares of Prothena in a research report on Sunday, February 4th. BidaskClub upgraded Prothena from a strong sell rating to a sell rating in a research report on Thursday, January 11th. Zacks Investment Research downgraded Prothena from a hold rating to a sell rating in a research report on Tuesday, January 9th. Oppenheimer set a $70.00 price objective on Prothena and gave the company a buy rating in a research report on Monday, December 4th. Finally, Wedbush downgraded Prothena from an outperform rating to a neutral rating and cut their price objective for the company from $75.00 to $55.00 in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $75.58.

Prothena (PRTA) opened at $28.19 on Wednesday. Prothena has a one year low of $27.19 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.04. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.28 million. During the same period last year, the company posted ($1.26) EPS. The firm’s quarterly revenue was down 33.6% on a year-over-year basis. equities research analysts forecast that Prothena will post -4.27 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Prothena by 7.8% in the second quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock valued at $159,519,000 after purchasing an additional 213,578 shares in the last quarter. State Street Corp lifted its holdings in shares of Prothena by 10.6% in the second quarter. State Street Corp now owns 1,181,365 shares of the biotechnology company’s stock valued at $63,932,000 after purchasing an additional 113,193 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Prothena by 1.9% in the second quarter. Vanguard Group Inc. now owns 713,084 shares of the biotechnology company’s stock valued at $38,592,000 after purchasing an additional 13,226 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Prothena by 1.3% in the fourth quarter. Jennison Associates LLC now owns 416,031 shares of the biotechnology company’s stock valued at $15,597,000 after purchasing an additional 5,313 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in shares of Prothena by 7.5% in the fourth quarter. Hood River Capital Management LLC now owns 213,119 shares of the biotechnology company’s stock valued at $7,990,000 after purchasing an additional 14,843 shares in the last quarter.

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About Prothena

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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