Oppenheimer lowered the firm’s price target on Prothena (PRTA) to $62 from $66 and keeps an Outperform rating on the shares. The firm notes the company reported Q2 financial results with $73.6M OpEx and $564M cash, and revised FY24 guidance. The improved guidance is mostly driven by Bristol Myers’ (BMY) opt-in to global PRX019 rights, which triggered an $80M payment to Prothena.
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