1. Jefferies upgraded the stock to buy from neutral expecting a 100% upside to the stock.
Citing the ‘positive momentum and pipeline execution’ and rising investor attention, the analyst Michael Yee ups the price target to $30 from $15, nearly double its previous close.
Prothena’s pipeline has significantly expanded and improved.
The company’s early-stage candidates for Alzheimer’s disease ‘should start to garner more attention,’ Yee argues, projecting the three mid-to-late-stage assets to yield ‘a significant upside.’
Add more than 300M in cash and the partnerships with Bristol Myers and Roche, the stock ‘is primed to move up 100% towards $30+,’ concluded the analyst.
Out of Prothena's two candidates, PRX012 and multi-immunogen vaccine, targeting the Alzheimer’s disease, the former is on track for an IND filing in Q1 2022, the company disclosed in the recent R & D update. -------------------------------------------------------------------------------------------------------------------------------------------------
2. BTIG Research upgraded PRTA from neutral to buy with price target $29.