Prana Biotechnology Limited (Nasdaq:PRAN)
December 5th, 2018
Amidst falling markets Prana Biotechnology Limited fell $0.07 Tuesday, down 4.24%, closing at $1.58. As well as the drop in value, Prana Biotechnology Limited hit a new 52 week low of $1.55, breaking the previous low of $1.56 from earlier this July. Prana Biotechnology Limited swung 12.90% between low and high. Two technical ‘scores’ for companies to be wary of are the Altman Z1 and the Piotroski2 scores. PRAN scored quite low for both, which could be indicators of trouble down the road (the Altman Z-Score is -3.20, and the Piotroski Score is 2). Despite the drop in value, trading volumes were solid at 836% of normal which can indicate investor opportunities.
PRAN was outperformed by the rest of the Healthcare sector which went down just 2.30%.
The market sectors were mixed Wednesday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.15%), while Financials saw the biggest drop (4.40%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector declining 13%.
Utilities saw the biggest turnaround from its 5-day performance of 2.31%, as it went up 0.15%. Industrials and Consumer Discretionary saw turn arounds from their five day positive performance, Industrials with a drop of 4.35%.
- Utilities went up with a 0.15% change.
- Real Estate went down with a -1.26% change.
- Consumer Staples went down with a -1.63% change.
- Healthcare went down with a -2.30% change.
- Energy went down with a -2.93% change.
- Materials went down with a -3.08% change.
- Communication Services went down with a -3.14% change.
- Information Technology went down with a -3.86% change.
- Consumer Discretionary went down with a -3.91% change.
- Industrials went down with a -4.35% change.
- Financials went down with a -4.40% change.
Prana Biotechnology Limited Info
Prana Biotechnology Limited develops therapies for the treatment of Alzheimer’s disease, Huntington disease, and other neurodegenerative disorders in Australia. Its lead drug candidates include PBT2, which is in Phase IIb clinical trials for the treatment of Alzheimer’s: and that is in Phase IIa clinical trials for the treatment of Huntington’s diseases. The company is also developing PBT434, which is in preclinical toxicology stage for the treatment for Parkinson’s disease and other movement disorders; and PBT 519 that is in preclinical toxicology stage for the treatment of brain cancer. It also has a library of approximately 1000 metal protein attenuating compounds. The company has a research collaboration agreement with Takeda Pharmaceuticals International, Inc. to slow or prevent neurodegeneration of the gastrointestinal system through PBT434, an investigational movement disorders compound. Prana Biotechnology Limited was founded in 1997 and is based in Melbourne, Australia.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Prana Biotechnology Limited’s score is -3.20) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
(2) The Piotrosky score is used to determine the best value stocks with nine being the best and zero being the worst. It is based on specific aspects of the company’s financial statements, such as positive net income, operating cash flow and asset turnover ratio. A score 0 0 is the worst (Prana Biotechnology Limited’s score is 2), and 9 is the best.
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