Chardan has adjusted its price target for Prothena (PRTA, Financial), reducing it to $18 from $40 while maintaining a Buy rating on the stock. This decision comes in the wake of the Phase 3 AFFIRM-AL study involving birtamimab, aimed at treating AL Amyloidosis, which failed to achieve its primary and key secondary endpoints. Consequently, the birtamimab program will be terminated. Despite low expectations from investors regarding these results, the stock is anticipated to face ongoing pressure. Chardan remains optimistic about the forthcoming data for PRX012, expected in August.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Prothena Corp PLC (PRTA, Financial) is $36.00 with a high estimate of $81.00 and a low estimate of $6.00. The average target implies an upside of 447.11% from the current price of $6.58. More detailed estimate data can be found on the Prothena Corp PLC (PRTA) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Prothena Corp PLC's (PRTA, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Prothena Corp PLC (PRTA, Financial) in one year is $28.79, suggesting a upside of 337.54% from the current price of $6.58. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Prothena Corp PLC (PRTA) Summary page.
