The stock of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) hit a new 52-week low and has $2.08 target or 11.00% below today’s $2.34 share price. The 5 months bearish chart indicates high risk for the $21.84M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.08 price target is reached, the company will be worth $2.40 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. About 75,271 shares traded hands or 78.71% up from the average. Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) has declined 1.06% since April 1, 2016 and is downtrending. It has underperformed by 2.27% the S&P500.
According to Zacks Investment Research, “Prana Biotechnology was established to commercialize research into Alzheimer’s disease and other major age-related degenerative disorders. Their mission is to develop diagnostic and therapeutic drugs to treat the central disease pathways that cause degeneration of the brain as the aging process progresses. Prana’s technology has emerged from its researchers at prominent international institutions such as Massachusetts General Hospital at Harvard Medical School and the University of Melbourne.”
More notable recent Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) news were published by: Marketwatch.com which released: “Prana Biotechnology Ltd. ADR” on November 16, 2010, also Quotes.Wsj.com with their article: “DOW JONES, A NEWS CORP COMPANY” published on February 11, 2011, Fool.com published: “Down 70%: Is Prana Biotechnology Ltd. a Buy?” on March 31, 2014. More interesting news about Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) were released by: Seekingalpha.com and their article: “Prana Biotechnology – A Gamble Worth Taking For Both Long- And Short-Term …” published on March 20, 2014 as well as Seekingalpha.com‘s news article titled: “Prana: Right Drug, Wrong Dose” with publication date: March 03, 2014.
PRAN Company Profile
Prana Biotechnology Limited, incorporated on November 11, 1997, is a development-stage medical biotechnology company. The Firm is engaged in the research and development of therapeutic drugs designed to treat the underlying cause of degeneration of the brain focusing on Alzheimer’s disease, Huntington disease, Parkinson’s disease and other neurological disorders. The Company’s lead product candidates are PBT2 and PBT434. The Company’s lead drug candidate PBT2 is being developed for the treatment of Alzheimer’s and Huntington’s diseases. The Firm also has advanced a drug candidate for Parkinson’s disease and other movement disorders (PBT434) and brain cancer (PBT519), which are in pre-clinical toxicology testing. The Company’s other applications for its therapies include certain cancers, age-related macular degeneration, Motor Neuron disease, Creutzfeldt-Jakob disease (the human variant of Mad Cow disease), and a range of orphan neurodegenerative disorders. PBT2 is a small molecule that reversibly binds and transports copper and zinc within neurons and across synapses.
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