H.C. Wainwright Sticks to Its Buy Rating for Prothena (PRTA)

In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Prothena (PRTAResearch Report), with a price target of $75.00. The company’s shares closed yesterday at $60.82.

Fein covers the Healthcare sector, focusing on stocks such as Wave Life Sciences, Unity Biotechnology, and ACADIA Pharmaceuticals. According to TipRanks, Fein has an average return of -10.4% and a 35.25% success rate on recommended stocks.

Prothena has an analyst consensus of Strong Buy, with a price target consensus of $81.13, which is a 33.39% upside from current levels. In a report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $82.00 price target.

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Based on Prothena’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.52 million and a GAAP net loss of $45.76 million. In comparison, last year the company earned a revenue of $139.17 million and had a net profit of $109.25 million

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRTA in relation to earlier this year.

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Prothena Corp. Plc is a late-stage clinical biotechnology company, which research, development and commercialization of therapies in the neuroscience and orphan categories. Its antibody-based product candidates target a potential indications including amyloidosis and Parkinson’s disease. The company was founded in December 1969 and is headquartered in Dublin, Ireland.

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