Prothena’s (PRTA) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital reissued their buy rating on shares of Prothena (NASDAQ:PRTA) in a research report report published on Friday,Benzinga reports. Chardan Capital currently has a $40.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued research reports about the company. Bank of America dropped their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and set a $48.00 target price (down previously from $84.00) on shares of Prothena in a research report on Friday, December 20th. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer lifted their price objective on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Prothena presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.83.

Prothena Stock Up 2.0 %

NASDAQ:PRTA opened at $15.56 on Friday. The firm’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $16.80. Prothena has a fifty-two week low of $11.70 and a fifty-two week high of $31.03.

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

Hedge Funds Weigh In On Prothena

A number of large investors have recently bought and sold shares of PRTA. Two Sigma Investments LP increased its holdings in shares of Prothena by 265.4% during the 4th quarter. Two Sigma Investments LP now owns 38,394 shares of the biotechnology company’s stock worth $532,000 after buying an additional 27,887 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Prothena by 24.8% in the 4th quarter. Rafferty Asset Management LLC now owns 77,672 shares of the biotechnology company’s stock worth $1,076,000 after purchasing an additional 15,442 shares during the period. ProShare Advisors LLC lifted its stake in shares of Prothena by 29.5% in the 4th quarter. ProShare Advisors LLC now owns 14,524 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 3,312 shares in the last quarter. Man Group plc grew its holdings in shares of Prothena by 90.7% during the 4th quarter. Man Group plc now owns 77,430 shares of the biotechnology company’s stock worth $1,072,000 after purchasing an additional 36,824 shares during the period. Finally, Millennium Management LLC increased its position in Prothena by 9.3% during the 4th quarter. Millennium Management LLC now owns 123,005 shares of the biotechnology company’s stock worth $1,704,000 after purchasing an additional 10,467 shares in the last quarter. 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.