Prothena price target raised to $36 from $15 at Piper Sandler

Piper Sandler raised the firm’s price target on Prothena (PRTA) to $36 from $15 and keeps an Overweight rating on the shares. The firm recognizes the value of its partnered pipeline with lucrative potential across net sales royalties and milestone payments. Piper remains bullish on Prothena and believes that there is substantial upside opportunity heading into a catalyst-rich next 12 months-plus.