Prothena price target lowered to $83 from $85 at JMP Securities

JMP Securities analyst Jason Butler lowered the firm’s price target on Prothena to $83 from $85 and keeps an Outperform rating on the shares.Prothena reported Q1 financial results and reiterated plans to provide an update in 2024 on the Phase 1 trial for amyloid beta antibody PRX012, the analyst tells investors in a research note. In addition to progress with the Phase 1 trial for PRX012, Prothena’s broader pipeline of Alzheimer’s disease therapeutics continues to advance in development, the firm says.