Prothena Corp (NDAQ:PRTA) Change of Rating

Prothena Corp (NDAQ:PRTA) was decreased by Wedbush from Outperform rating to Neutral rating in a research note issued to clients on Monday, 20 November. The firm currently has a $55.00 target on the stock. Wedbush’s target means a potential upside of 21.39 % from the stock’s last stock close price.

This rating downgrade was most probably noticed by equity trades, as NDAQ:PRTA is currently trading -14.12% lower at $44.60 as of 8:00 AM New York time. Prothena Corp’s stock is 0% over the past 200 days. It has underperformed the S&P500, which has gained 6.00% over the same time.

Out of 7 analysts covering Prothena Corp, 7 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $95 and the lowest is $54 according to Thomson/First Call. The 12-month mean target is $73.86, which means upside potential of 65.61% over the current price.

Institutional Ownership

Redmile Group Llc had the biggest stake with ownership of 701,659 shares as of Q2 2015 for 3.35% of the fund’s portfolio. Palo Alto Investors Llc is another notably bullish fund who is owning 934,455 shares of Prothena Corp or 3.26% of their fund’s portfolio. Furthermore, Opaleye Management Inc. have 1.57% of their fund’s portfolio invested in the company for 50,000 shares. The Maryland-based fund Rock Springs Capital Management Lp revealed it had bought so far a stake worth about 1.16% of the fund’s stock portfolio in Prothena Corp. The Oregon-based fund Hood River Capital Management Llc is also positive about the stock, possessing 308,000 shares or 0.75% of their fund’s portfolio.

Prothena Corp (NDAQ:PRTA) Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).

Prothena Corp (NDAQ:PRTA) traded down -14.12% on 20 November, hitting $44.6. A total of 1.24M shares of the company’s stock traded hands. This is up from average of 323,941 shares. Prothena Corp has a 52 week low of $44.43 and a 52 week high of $70. The company has a market cap of $1.71B and a P/E ratio of 0.

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The post EU: Prothena Corp (NDAQ:PRTA) Rating Cut to Neutral at Wedbush Having $55.00 Target Price. Lost Its Old Outperform Rating appeared first on Octafinance.