PRTA - Double BottomPRTA likes Double Bottoms
Both in similar green circles
I expect both aswell to have similar bullish outcomes
PRTA
Jefferies upgraded $PRTA to buy from neutral-100% upside1. 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.
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2. BTIG Research upgraded $PRTA from neutral to buy with price target $29.
seekingalpha.com
PRTA earnings playPRTA broke out of longer term consolidation and after a quick run pulled back. It seems to start moving up again now. The moving averages are all sloped up nicely and volume expanded and contracted nicely. With earnings coming in after todays session this might be a nice earning play by buying some calls for limited downside risk.
