Prothena Co. plc (NASDAQ:PRTA) Receives $52.29 Average Price Target from Analysts

Prothena Co. plc (NASDAQ:PRTA) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $52.29.

Several analysts have issued reports on PRTA shares. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Monday, September 30th. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price (down from $84.00) on shares of Prothena in a research note on Friday, December 20th. Bank of America cut their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, Chardan Capital started coverage on Prothena in a report on Friday, December 20th. They issued a “buy” rating and a $40.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRTA. Bank of New York Mellon Corp raised its holdings in shares of Prothena by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock valued at $3,414,000 after buying an additional 19,578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares during the period. Rhumbline Advisers grew its holdings in shares of Prothena by 9.9% in the second quarter. Rhumbline Advisers now owns 69,756 shares of the biotechnology company’s stock valued at $1,440,000 after purchasing an additional 6,256 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Prothena during the 2nd quarter worth approximately $905,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Trading Up 1.5 %

NASDAQ:PRTA opened at $13.87 on Wednesday. The company has a market cap of $746.33 million, a P/E ratio of -5.59 and a beta of 0.10. Prothena has a twelve month low of $11.70 and a twelve month high of $41.54. The company’s 50-day moving average price is $15.30 and its 200-day moving average price is $18.64.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue was down 98.9% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. On average, analysts expect that Prothena will post -2.24 earnings per share for the current year.

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.