Brokerages Set Prothena Co. plc (NASDAQ:PRTA) PT at $61.86

Prothena Co. plc (NASDAQ:PRTA) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.86.

Several research firms recently weighed in on PRTA. Oppenheimer dropped their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Bank of America lowered their target price on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, HC Wainwright restated a “buy” rating and set a $84.00 target price on shares of Prothena in a report on Wednesday, November 13th.

Prothena Stock Up 2.3 %

Shares of Prothena stock opened at $14.37 on Friday. The firm has a market cap of $773.25 million, a PE ratio of -5.79 and a beta of 0.09. Prothena has a 52 week low of $13.22 and a 52 week high of $41.54. The business’s fifty day simple moving average is $16.20 and its 200-day simple moving average is $19.49.

Prothena (NASDAQ:PRTA) last posted its earnings results 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 analysts’ expectations of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. Prothena’s revenue for the quarter was down 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, equities analysts expect that Prothena will post -2.24 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of hedge funds have recently bought and sold shares of the stock. DCF Advisers LLC raised its position in Prothena by 0.5% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock valued at $2,219,000 after purchasing an additional 500 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares in the last quarter. Signaturefd LLC raised its position in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Prothena by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock valued at $2,104,000 after purchasing an additional 2,847 shares in the last quarter. Institutional investors and hedge funds 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.