Prothena (NASDAQ:PRTA) Downgraded by BidaskClub

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

Several other research analysts also recently weighed in on PRTA. ValuEngine upgraded Prothena from a sell rating to a hold rating in a research note on Thursday, August 1st. Barclays restated a sell rating and issued a $9.00 price target on shares of Prothena in a research note on Friday, May 31st. Cantor Fitzgerald restated an overweight rating on shares of Prothena in a research note on Thursday, May 16th. Finally, Zacks Investment Research upgraded Prothena from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Prothena has an average rating of Hold and a consensus price target of $11.26.

PRTA stock opened at $7.75 on Thursday. Prothena has a 1-year low of $7.52 and a 1-year high of $15.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.95 and a current ratio of 14.94. The business has a 50 day simple moving average of $9.57 and a two-hundred day simple moving average of $10.90.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Orbimed Advisors LLC raised its holdings in shares of Prothena by 25.9% during 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 in the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of Prothena by 17.4% during the 2nd quarter. Platinum Investment Management Ltd. now owns 189,991 shares of the biotechnology company’s stock worth $2,008,000 after acquiring an additional 28,145 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Prothena during the 2nd quarter worth approximately $2,674,000. UBS Asset Management Americas Inc. raised its holdings in shares of Prothena by 12.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 30,815 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Prothena by 224.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,753 shares of the biotechnology company’s stock worth $484,000 after acquiring an additional 31,665 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.

Prothena Company Profile

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.

Further Reading: How to Use a Moving Average for Trading 

Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.