Prothena Corp (PRTA) PT Raised to $50 at RBC Capital

June 10, 2021 5:11 PM EDT
Get Alerts PRTA Hot Sheet
Price: $49.26 +1.11%

Rating Summary:
    16 Buy, 2 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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RBC Capital analyst Kennen MacKay raised the price target on Prothena Corp (NASDAQ: PRTA) to $50.00 (from $28.00) while maintaining an Outperform rating following Biogen's (NASDAQ: BIIB) ADUHELM approval.

The analyst commented, "We reiterate our OP rating & increase our price target to $50/ sh incorporating value to PRTA's early stage Alzheimer's Disease programs. Following the recent approval of BIIB's ADUHELM we see improved clinical/ regulatory prospects for the development of AD-directed products, and we expect significant big-biotech/pharma interest in the space. While PRTA's AD pipeline remains early (INDs in '21 & '22) we anticipate this will be a major focus of investors ahead."

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