Prothena (NASDAQ:PRTA) had its price target lifted by Cantor Fitzgerald from $43.00 to $62.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have an overweight rating on the biotechnology company’s stock.
Several other equities analysts also recently commented on the stock. Oppenheimer boosted their price target on shares of Prothena from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Tuesday, June 1st. Jefferies Financial Group boosted their price target on shares of Prothena from $30.00 to $38.00 and gave the stock a buy rating in a research note on Monday, March 15th. Zacks Investment Research upgraded shares of Prothena from a sell rating to a hold rating and set a $24.00 price target for the company in a research note on Wednesday, February 17th. Citigroup assumed coverage on shares of Prothena in a research note on Wednesday, May 26th. They issued a buy rating for the company. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Prothena in a research note on Wednesday, May 26th. They set a buy rating and a $39.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $41.50.
Shares of NASDAQ PRTA opened at $44.52 on Tuesday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -14.32 and a beta of 1.56. Prothena has a 52-week low of $9.25 and a 52-week high of $45.62. The firm has a 50 day moving average price of $26.14.
In other news, major shareholder Ecor1 Capital, Llc bought 875,000 shares of the stock in a transaction that occurred on Wednesday, March 24th. The stock was purchased at an average price of $20.75 per share, for a total transaction of $18,156,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. EAM Investors LLC purchased a new stake in Prothena in the first quarter valued at $1,549,000. Rafferty Asset Management LLC purchased a new stake in Prothena in the first quarter valued at $1,032,000. Citigroup Inc. lifted its position in Prothena by 160.5% in the fourth quarter. Citigroup Inc. now owns 7,572 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 4,665 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Prothena in the fourth quarter valued at $161,000. Finally, Natixis Advisors L.P. purchased a new stake in Prothena in the first quarter valued at $325,000. 90.50% of the stock is owned by hedge funds and other institutional investors.
Prothena Company Profile
Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase 2 clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, an antibody that is in Phase 1 clinical trial for the treatment of ATTR amyloidosis.
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