Prothena (NASDAQ:PRTA) Downgraded by Jefferies Financial Group to Hold

Prothena (NASDAQ:PRTA) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Tuesday,Finviz reports. They presently have a $6.00 price objective on the biotechnology company’s stock. Jefferies Financial Group’s target price indicates a potential downside of 8.81% from the stock’s previous close.

PRTA has been the subject of a number of other research reports. Piper Sandler boosted their price target on Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Oppenheimer lowered Prothena from an “outperform” rating to a “market perform” rating in a research note on Tuesday. HC Wainwright dropped their price objective on shares of Prothena from $30.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Cantor Fitzgerald raised shares of Prothena to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reduced their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.25.

Prothena Trading Up 0.5%

Prothena stock opened at $6.58 on Tuesday. The stock has a fifty day moving average price of $9.54 and a 200 day moving average price of $12.77. Prothena has a 52 week low of $4.49 and a 52 week high of $25.42. The firm has a market capitalization of $354.18 million, a P/E ratio of -2.86 and a beta of 0.11.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. During the same period last year, the company posted ($1.34) EPS. The business’s revenue for the quarter was up 5500.0% on a year-over-year basis. As a group, equities analysts predict that Prothena will post -4.04 EPS for the current year.

Hedge Funds Weigh In On Prothena

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 23,525 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Prothena during the 4th quarter worth approximately $159,000. China Universal Asset Management Co. Ltd. raised its position in shares of Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in Prothena in the fourth quarter valued at $445,000. Finally, Rhumbline Advisers boosted its stake in Prothena by 1.8% during the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors and hedge funds 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.