Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Price Target at $46.50

Shares of Prothena Co. plc (NASDAQ:PRTA) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat 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 objective among brokerages that have covered the stock in the last year is $46.50.

Several research analysts recently commented on PRTA shares. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Chardan Capital assumed coverage on Prothena in a research note on Friday, December 20th. They issued a “buy” rating and a $40.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $48.00 price objective (down previously from $84.00) on shares of Prothena in a research note on Friday, December 20th. Finally, Bank of America dropped their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th.

Hedge Funds Weigh In On Prothena

Large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Prothena by 1,122.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after acquiring an additional 483,673 shares during the period. Duncan Williams Asset Management LLC increased its stake in Prothena by 41.9% during the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after acquiring an additional 20,450 shares during the period. Wellington Management Group LLP increased its stake in Prothena by 14.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after acquiring an additional 539,359 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Prothena during the 4th quarter worth $724,000. Institutional investors own 97.08% of the company’s stock.

Prothena Price Performance

PRTA stock opened at $15.96 on Friday. The stock has a market capitalization of $858.79 million, a P/E ratio of -6.44 and a beta of 0.10. The business has a 50-day moving average of $14.40 and a 200-day moving average of $17.84. Prothena has a fifty-two week low of $11.70 and a fifty-two week high of $33.84.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The firm had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.22 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. Equities analysts expect that Prothena will post -2.24 EPS 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.