Fintel reports that on May 8, 2023, Cantor Fitzgerald maintained coverage of Prothena (NASDAQ:PRTA) with a Overweight recommendation.
Analyst Price Forecast Suggests 14.38% Upside
As of April 24, 2023, the average one-year price target for Prothena is 87.95. The forecasts range from a low of 55.55 to a high of $126.00. The average price target represents an increase of 14.38% from its latest reported closing price of 76.89.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Prothena is 43MM, a decrease of 22.34%. The projected annual non-GAAP EPS is -4.04.
What is the Fund Sentiment?
There are 453 funds or institutions reporting positions in Prothena. This is an increase of 22 owner(s) or 5.10% in the last quarter. Average portfolio weight of all funds dedicated to PRTA is 0.28%, a decrease of 9.31%. Total shares owned by institutions increased in the last three months by 12.68% to 52,709K shares. 
The put/call ratio of PRTA is 0.64, indicating a bullish outlook.
What are Other Shareholders Doing?
EcoR1 Capital holds 11,584K shares representing 21.94% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 3,206K shares representing 6.07% ownership of the company. In it's prior filing, the firm reported owning 2,982K shares, representing an increase of 6.99%. The firm increased its portfolio allocation in PRTA by 4.91% over the last quarter.
Avidity Partners Management holds 2,953K shares representing 5.59% ownership of the company. In it's prior filing, the firm reported owning 1,967K shares, representing an increase of 33.39%. The firm increased its portfolio allocation in PRTA by 58.97% over the last quarter.
Wellington Management Group Llp holds 1,765K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 432K shares, representing an increase of 75.55%. The firm increased its portfolio allocation in PRTA by 282.64% over the last quarter.
Palo Alto Investors holds 1,659K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,650K shares, representing an increase of 0.53%. The firm increased its portfolio allocation in PRTA by 7.73% over the last quarter.
Prothena Background Information
(This description is provided by the company.)
Prothena Corporation plc is a late-stage clinical company with expertise in protein dysregulation and a diverse pipeline of novel investigational therapeutics with the potential to change the course of devastating neurodegenerative and rare peripheral amyloid diseases. Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for a number of indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Prothena’s partnered programs include prasinezumab (PRX002/RG7935), in collaboration with Roche for the potential treatment of Parkinson’s disease and other related synucleinopathies, and programs that target tau (PRX005), TDP-43 and an undisclosed target in collaboration with Bristol-Myers Squibb for the potential treatment of Alzheimer’s disease, amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD) or other neurodegenerative diseases. Prothena’s wholly-owned programs include PRX004 for the potential treatment of ATTR amyloidosis, and a portfolio of programs for the potential treatment of Alzheimer’s disease including PRX012 that targets Aß (Amyloid beta).
See all Prothena regulatory filings.This story originally appeared on Fintel.
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