Does Prana Biotechnology Limited (PRAN) Have Any Gas After Reaching 52-Week Low?

April 17, 2018 - By Bradley Stiles

The stock of Prana Biotechnology Limited (NASDAQ:PRAN) hit a new 52-week low and has $1.70 target or 9.00 % below today’s $1.87 share price. The 6 months bearish chart indicates high risk for the $17.38M company. The 1-year low was reported on Apr, 17 by Barchart.com. If the $1.70 price target is reached, the company will be worth $1.56 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.32% or $0.04 during the last trading session, reaching $1.87. About 17,676 shares traded. Prana Biotechnology Limited (NASDAQ:PRAN) has declined 10.28% since April 17, 2017 and is downtrending. It has underperformed by 21.83% the S&P500.

Prana Biotechnology Limited (NASDAQ:PRAN) Ratings Coverage

Among 2 analysts covering Prana Biotechnology Ltd (NASDAQ:PRAN), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Prana Biotechnology Ltd had 2 analyst reports since January 5, 2018 according to SRatingsIntel.

Prana Biotechnology Limited develops therapies for the treatment of Alzheimer's disease, Huntington disease, and other neurodegenerative disorders in Australia. The company has market cap of $17.38 million. The Company’s lead drug candidates include PBT2, which is in Phase IIb clinical trials for the treatment of AlzheimerÂ’s: and that is in Phase IIa clinical trials for the treatment of HuntingtonÂ’s diseases. It currently has negative earnings. The firm is also developing PBT434, which is in preclinical toxicology stage for the treatment for ParkinsonÂ’s disease and other movement disorders; and PBT 519 that is in preclinical toxicology stage for the treatment of brain cancer.

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