Prothena (NASDAQ:PRTA) Lowered to Sell at BidaskClub

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BidaskClub downgraded shares of Prothena (NASDAQ:PRTA) from a hold rating to a sell rating in a research report released on Saturday, BidAskClub reports.

Several other research analysts also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating on shares of Prothena in a research note on Thursday, May 16th. Zacks Investment Research downgraded CGI from a buy rating to a hold rating in a research note on Wednesday, June 19th. Barclays set a $145.00 price target on Sanderson Farms and gave the stock a hold rating in a research note on Friday, May 31st. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $11.26.

Shares of NASDAQ:PRTA opened at $9.68 on Friday. The company’s 50 day moving average is $9.75. The company has a market cap of $388.73 million, a P/E ratio of -2.68 and a beta of 2.34. The company has a current ratio of 27.85, a quick ratio of 27.85 and a debt-to-equity ratio of 0.07. Prothena has a 12-month low of $8.63 and a 12-month high of $15.91.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.08. Prothena had a negative return on equity of 33.45% and a negative net margin of 13,978.88%. The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.20 million. On average, research analysts predict that Prothena will post -2.26 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in shares of Prothena by 7.5% during the 4th quarter. Legal & General Group Plc now owns 14,611 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 1,024 shares in the last quarter. Quantamental Technologies LLC raised its holdings in shares of Prothena by 142.9% during the 1st quarter. Quantamental Technologies LLC now owns 4,129 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 2,429 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Prothena by 22.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,450 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 2,800 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Prothena by 11.3% during the 1st quarter. Rhumbline Advisers now owns 63,904 shares of the biotechnology company’s stock worth $775,000 after acquiring an additional 6,488 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Prothena by 309.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,061 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 8,360 shares in the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.

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.

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