Fintel reports that on June 28, 2023, Cantor Fitzgerald reiterated coverage of Prothena (NASDAQ:PRTA) with a Overweight recommendation.
Analyst Price Forecast Suggests 34.20% Upside
As of June 2, 2023, the average one-year price target for Prothena is 93.94. The forecasts range from a low of 60.60 to a high of $126.00. The average price target represents an increase of 34.20% from its latest reported closing price of 70.00.
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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 454 funds or institutions reporting positions in Prothena. This is an increase of 1 owner(s) or 0.22% in the last quarter. Average portfolio weight of all funds dedicated to PRTA is 0.24%, a decrease of 13.08%. Total shares owned by institutions increased in the last three months by 4.41% to 54,886K shares. 
The put/call ratio of PRTA is 1.34, indicating a bearish outlook.
What are Other Shareholders Doing?
EcoR1 Capital holds 11,584K shares representing 21.96% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 3,202K shares representing 6.07% ownership of the company. In it's prior filing, the firm reported owning 3,206K shares, representing a decrease of 0.11%. The firm decreased its portfolio allocation in PRTA by 25.22% over the last quarter.
Wellington Management Group Llp holds 2,266K shares representing 4.30% ownership of the company. In it's prior filing, the firm reported owning 1,765K shares, representing an increase of 22.12%. The firm decreased its portfolio allocation in PRTA by 85.59% over the last quarter.
Palo Alto Investors holds 1,664K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,659K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in PRTA by 21.59% over the last quarter.
Janus Henderson Group holds 1,596K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,432K shares, representing an increase of 10.27%. The firm decreased its portfolio allocation in PRTA by 72.59% 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).
Key filings for this company:
This story originally appeared on Fintel.
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