Prothena Co. plc (NASDAQ:PRTA) Receives $61.86 Average PT from Brokerages

Prothena Co. plc (NASDAQ:PRTA) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $61.86.

A number of analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Monday, September 30th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Bank of America lowered their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $84.00 price target on shares of Prothena in a research note on Wednesday. Finally, Oppenheimer decreased their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares during the period. Armistice Capital LLC increased its stake in shares of Prothena by 42.3% during the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after acquiring an additional 464,000 shares during the period. SG Americas Securities LLC raised its holdings in Prothena by 226.4% during the second quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock worth $1,126,000 after purchasing an additional 37,852 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Prothena in the second quarter valued at about $905,000. Finally, Duncan Williams Asset Management LLC purchased a new stake in Prothena in the 3rd quarter valued at approximately $816,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Stock Performance

PRTA stock opened at $16.10 on Tuesday. The company’s 50 day moving average price is $18.32 and its 200 day moving average price is $20.38. The firm has a market capitalization of $865.86 million, a price-to-earnings ratio of -6.49 and a beta of 0.16. Prothena has a fifty-two week low of $15.30 and a fifty-two week high of $41.54.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. The company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.03%. The company’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Equities analysts forecast that Prothena will post -2.34 EPS for the current fiscal year.

About Prothena

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.