Prothena (NASDAQ:PRTA) Stock Price Up 4%

Prothena Co. plc (NASDAQ:PRTA)’s stock price rose 4% on Friday . The company traded as high as $20.63 and last traded at $20.45. Approximately 211,178 shares changed hands during trading, a decline of 68% from the average daily volume of 665,562 shares. The stock had previously closed at $19.66.

Analyst Ratings Changes

PRTA has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. JMP Securities dropped their target price on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, May 9th. Finally, HC Wainwright dropped their target price on shares of Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Prothena presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Prothena Stock Up 9.3 %

The company has a market cap of $1.15 billion, a PE ratio of -6.61 and a beta of 0.24. The stock’s 50 day moving average is $21.26 and its 200-day moving average is $27.38.

Prothena (NASDAQ:PRTA) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.13). Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $3.75 million. During the same period in the prior year, the company posted ($0.89) EPS. On average, analysts anticipate that Prothena Co. plc will post -4.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Prothena by 265.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,122 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Prothena in the first quarter valued at $96,000. ADAR1 Capital Management LLC purchased a new stake in shares of Prothena in the fourth quarter valued at $222,000. China Universal Asset Management Co. Ltd. increased its stake in Prothena by 351.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,203 shares of the biotechnology company’s stock worth $225,000 after buying an additional 4,828 shares during the period. Finally, Focused Wealth Management Inc increased its stake in Prothena by 7,751.9% in the 1st quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock worth $251,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson's disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer's disease.