BidaskClub lowered shares of Prothena (NASDAQ:PRTA) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

A number of other brokerages have also issued reports on PRTA. Barclays reissued a sell rating and set a $9.00 target price on shares of Prothena in a research note on Friday, May 31st. Zacks Investment Research raised shares of Prothena from a hold rating to a buy rating and set a $11.00 target price for the company in a research note on Wednesday, June 19th. ValuEngine raised shares of Prothena from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an overweight rating on shares of Prothena in a research note on Thursday, May 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.26.

Shares of NASDAQ:PRTA opened at $7.75 on Thursday. The firm has a fifty day moving average of $9.57 and a two-hundred day moving average of $10.90. The firm has a market capitalization of $303.21 million, a P/E ratio of -2.15 and a beta of 2.26. Prothena has a 12-month low of $7.52 and a 12-month high of $15.91. The company has a quick ratio of 14.95, a current ratio of 14.94 and a debt-to-equity ratio of 0.07.

Prothena (NASDAQ:PRTA) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.16. The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.22 million. Prothena had a negative net margin of 10,435.79% and a negative return on equity of 27.59%. Equities research analysts expect that Prothena will post -2.13 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Prothena by 0.5% in the 2nd quarter. BlackRock Inc. now owns 3,351,908 shares of the biotechnology company’s stock worth $35,431,000 after acquiring an additional 17,619 shares during the period. Orbimed Advisors LLC raised its holdings in Prothena by 25.9% in the 2nd quarter. Orbimed Advisors LLC now owns 3,065,278 shares of the biotechnology company’s stock worth $32,400,000 after acquiring an additional 630,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in Prothena by 34.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,272,832 shares of the biotechnology company’s stock worth $13,110,000 after acquiring an additional 328,166 shares during the period. Vanguard Group Inc. raised its holdings in Prothena by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 813,376 shares of the biotechnology company’s stock worth $8,597,000 after acquiring an additional 5,817 shares during the period. Finally, Bank of America Corp DE raised its holdings in Prothena by 553.7% in the 4th quarter. Bank of America Corp DE now owns 529,262 shares of the biotechnology company’s stock worth $5,451,000 after acquiring an additional 645,905 shares during the period. 98.89% of the stock is owned by institutional investors and hedge funds.

About Prothena

Prothena Corporation plc, a clinical-stage neuroscience 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 II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.

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