Cantor Fitzgerald analyst William Tanner reiterated a Buy rating on Prothena Corp (NASDAQ: PRTA) yesterday and set a price target of $18. The company’s shares closed yesterday at $14.70, close to its 52-week low of $10.43.
“We are reiterating our Overweight rating for PRTA stock and we are raising our PT to $18 from $14 based on our analysis of the potential value of PRTA’s drug discovery platform and management’s recently announced restructuring plan.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 10.3% and a 57.1% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Prothena Corp has an analyst consensus of Hold, with a price target consensus of $13.86.
The company has a one-year high of $70 and a one-year low of $10.43. Currently, Prothena Corp has an average volume of 1.06M.
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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.