B of A Securities Downgrades Prothena Corp to Neutral, Lowers Price Target to $38
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Tazeen Ahmad has downgraded Prothena Corp (NASDAQ:PRTA) from Buy to Neutral and reduced the price target from $68 to $38.
January 30, 2024 | 1:06 pm
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Prothena Corp's stock rating was downgraded by B of A Securities from Buy to Neutral, and the price target was cut from $68 to $38.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The substantial reduction in the price target from $68 to $38 also suggests a lowered expectation of the company's future performance, which may further impact investor sentiment negatively.
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