Latest news with #ProthenaCorporation
Yahoo
28-05-2025
- Business
- Yahoo
Oppenheimer Downgrades Prothena Corporation (NASDAQ:PRTA) to Perform from Outperform
Oppenheimer downgraded Prothena Corporation plc (NASDAQ:PRTA) to Perform from Outperform on May 27 without a price target. This rating update came after Prothena Corporation's (NASDAQ:PRTA) May 23 announcement that its Phase 3 AFFIRM-AL trial for birtamimab in amyloid light chain amyloidosis failed to meet the primary endpoint of all-cause mortality. A doctor examining the results of a patient's medical scan displayed on a computer monitor. The analyst told investors in a research note that with a hazard ratio of 0.915, there was essentially an overlap between the survival curve for birtamimab and the control arm. Failing to meet primary and secondary endpoints, Prothena Corporation (NASDAQ:PRTA) is discontinuing the trial. Despite these negative results, Oppenheimer remains optimistic about the company's prospects, primarily due to its various partnered and internal programs. However, the firm did comment that the AFFIRM-AL catalyst was the key driver of its bullish thesis. Prothena Corporation (NASDAQ:PRTA) is a clinical-stage neuroscience company that discovers and develops novel therapies for serious diseases. Its clinical pipeline includes both partnered and wholly owned therapies for AL amyloidosis, Alzheimer's disease, ATTR amyloidosis, Parkinson's disease, and other neurodegenerative diseases. While we acknowledge the potential of PRTA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRTA and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
Yahoo
27-05-2025
- Business
- Yahoo
Jefferies Downgrades Prothena Corporation (PRTA) After Negative Trial Results
On May 27, Jefferies downgraded Prothena Corporation plc (NASDAQ:PRTA) to Hold from Buy and slashed the price target to $6 from $32. The considerable price target reduction followed the company's announcement regarding the discontinuation of its Phase 3 AFFIRM-AL clinical trial for Birtamimab in AL Amyloidosis patients, as it could not meet the primary and secondary endpoints. A biopharmaceutical research lab with a team of scientists working on immunomodulatory therapies. The analyst told investors in a research note that Prothena Corporation's (NASDAQ:PRTA) Phase III study in light-chain amyloidosis has failed for the second time, which is why it is discontinuing the study and reducing opex related to birtamimab. While more updates are expected in June, the next investor focus is on PRX-012 Phase I/II for Alzheimer's. Data for PRX-012 Phase I/II is expected to roll out by August. However, Jeffries expressed caution regarding the results, as they may not show significant efficacy. Prothena Corporation (NASDAQ:PRTA) is a clinical-stage neuroscience company that discovers and develops novel therapies for serious diseases. Its clinical pipeline includes both partnered and wholly owned therapies for AL amyloidosis, Alzheimer's disease, ATTR amyloidosis, Parkinson's disease, and other neurodegenerative diseases. While we acknowledge the potential of TGT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TGT and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
