FMP
Oppenheimer Raised its Price Target on Prothena Corporation to $100 from $90
Sep 27, 2021 8:03 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Analysts at Oppenheimer increased their price target on Prothena Corporation plc (NASDAQ:PRTA) to $100 from $90, as they refresh their favorable outlook on the company due to the recent update of FDA's Surrogate Endpoint Table, which now includes a reduction in amyloid-ß plaque for mAbs in mild-AD patients as appropriate for accelerated approval.
The analysts see confirmation that the company should benefit from regulatory precedence plus BIIB's launch efforts, noting that BIIB's Aduhelm was approved based on this surrogate endpoint.
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