UPDATE: Wedbush Initiates Coverage on Prothena on Amyloidosis Opportunity More Valuable Than Valuation Implies

In a report published on Wednesday, Wedbush analyst Christopher N. Marai initiated coverage on Prothena PRTA with an Outperform rating and a $18 price target. In the report, Wedbush stated , "We believe that the Street is overlooking the opportunity in amyloidosis because of recent advances in treatment that have produced relatively impressive hematological responses. However, we note that current therapies do not address visceral deposits in organs which are the underlying cause of morbidity and mortally for the majority of patients with these diseases." Prothena closed on Wednesday at $11.18.