Prothena price target raised to $20 from $19 at Citizens

Citizens raised the firm’s price target on Prothena (PRTA) to $20 from $19 and keeps an Outperform rating on the shares. Prothena’s Q1 update highlighted continued advancement of partnered and internal pipeline programs, a $50M milestone from Novo Nordisk (NVO) that strengthened liquidity, and improved 2026 financial positioning, including higher year-end cash guidance and a significantly reduced expected net loss driven by lower cash burn and the milestone receipt, the analyst tells investors in a research note.