|Day Low/High||9.37 / 9.98|
|52 Wk Low/High||8.63 / 15.91|
Prothena (PRTA) shares are up following the publishing of an abstract touting its AL amyloidosis treatment
Prothena (PRTA) surged more than 25% and hit an all-time high of $47.48 on Wednesday, one day after the biotech company announced it would present clinical data at the XIV International Symposium on Amyloidosis in Indianapolis from April 27 to May 1. In the wake of this news, RBC Capital Markets increased its target price on Prothena to $52 from $38 and maintained its "outperform" rating. The firm contends that the ISA abstract title indicates that the company's NEOD001 drug produced early cardiac responses in amyloidosis patients. The firm believes this outcome surpasses analysts' estimates and indicates the drug could be worth more than $500 million.
Upgrades: CCJ, CSH, ENPH, EQR, GES, NFX, TDG, UPL Downgrades: ARCP, ARR, AUY, FUR, MAYS, VRTB Initiations: ENSV, PRTA Read on to get TheStreet Quant Ratings' detailed report:
Keep these biotech stocks rising on unusual volume on your radar.
Unusual volume can be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst.
Phase 1 Clinical Trial Initiated in April for NEOD001 in AL Amyloidosis Patients
NEOD001 Enters Clinic With Orphan Designation and Potential to Meet Significant Unmet Need
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