Cantor Fitzgerald Reiterates Prothena (PRTA) Overweight Recommendation
Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Prothena (NASDAQ:PRTA) with a Overweight recommendation.
Analyst Price Forecast Suggests 65.93% Upside
As of August 2, 2023, the average one-year price target for Prothena is 94.86. The forecasts range from a low of 60.60 to a high of $135.45. The average price target represents an increase of 65.93% from its latest reported closing price of 57.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Prothena is 43MM, a decrease of 25.99%. The projected annual non-GAAP EPS is -4.04.
What is the Fund Sentiment?
There are 464 funds or institutions reporting positions in Prothena. This is an increase of 16 owner(s) or 3.57% in the last quarter. Average portfolio weight of all funds dedicated to PRTA is 0.25%, an increase of 4.16%. Total shares owned by institutions increased in the last three months by 6.78% to 55,499K shares. 
The put/call ratio of PRTA is 1.96, indicating a bearish outlook.
What are Other Shareholders Doing?
EcoR1 Capital holds 11,584K shares representing 21.64% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 3,554K shares representing 6.64% ownership of the company. In it's prior filing, the firm reported owning 3,202K shares, representing an increase of 9.89%. The firm decreased its portfolio allocation in PRTA by 35.85% over the last quarter.
Wellington Management Group Llp holds 2,211K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 2,266K shares, representing a decrease of 2.48%. The firm decreased its portfolio allocation in PRTA by 81.49% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 2,074K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 1,229K shares, representing an increase of 40.75%. The firm increased its portfolio allocation in PRTA by 78.80% over the last quarter.
Janus Henderson Group holds 1,673K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,596K shares, representing an increase of 4.56%. The firm decreased its portfolio allocation in PRTA by 54.47% 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).
Additional reading:
- June 30, December 31, 2023 2022 Assets Cash and cash equivalents $ 659,111 $ 710,406 Restricted cash, current 1,352 — Prepaid expenses and other current assets 16,640 8,692 Total current assets 677,103 719,098 Property and equipment, net 2,170 1,731
- Fourth Amendment to the Prothena Corporation plc 2018 Long Term Incentive Plan
- Press Release dated
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