Prothena price target lowered to $30 from $48 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Prothena (PRTA) to $30 from $48 and keeps a Buy rating on the shares. The firm dropped the stock’s valuation multiples to better align with current investor sentiment, elevated cost of capital, and reduced appetite for early-stage clinical risk.