Prothena (NASDAQ:PRTA) Raised to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Prothena (NASDAQ:PRTA) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Prothena’s FY2025 earnings at ($3.59) EPS.

PRTA has been the subject of several other research reports. Chardan Capital restated a “buy” rating and set a $40.00 price target on shares of Prothena in a research report on Friday, May 9th. HC Wainwright dropped their price objective on Prothena from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. JMP Securities lowered their target price on Prothena from $80.00 to $78.00 and set a “market outperform” rating on the stock in a research note on Friday, May 9th. Finally, Royal Bank of Canada cut their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and an average target price of $51.71.

Prothena Stock Down 9.2%

Shares of NASDAQ:PRTA opened at $6.89 on Tuesday. The firm has a market capitalization of $370.87 million, a price-to-earnings ratio of -3.00 and a beta of 0.11. Prothena has a twelve month low of $6.82 and a twelve month high of $25.42. The stock’s 50 day moving average is $10.63 and its 200-day moving average is $13.42.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (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 firm had revenue of $2.83 million during the quarter, compared to the consensus estimate of $8.18 million. During the same quarter in the previous year, the company earned ($1.34) EPS. The business’s revenue was up 5500.0% compared to the same quarter last year. Equities research analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently modified their holdings of the business. Virtus ETF Advisers LLC raised its stake in Prothena by 19.3% in 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. GAMMA Investing LLC boosted its holdings in shares of Prothena by 4,626.0% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 5,875 shares in the last quarter. Headlands Technologies LLC raised its holdings 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 buying an additional 4,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena in the first quarter worth approximately $126,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Prothena in the 4th quarter worth approximately $145,000. 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.