Prothena (NASDAQ:PRTA) Now Covered by StockNews.com

Posted by Joseph Casey on Mar 19th, 2023

StockNews.com assumed coverage on shares of Prothena (NASDAQ:PRTA – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler started coverage on Prothena in a report on Friday, January 27th. They set an overweight rating and a $94.00 price target for the company. HC Wainwright reiterated a buy rating and set a $75.00 target price on shares of Prothena in a research note on Friday, February 24th. Cantor Fitzgerald increased their price target on Prothena from $91.00 to $98.00 and gave the company an overweight rating in a research note on Wednesday, December 21st. Finally, Citigroup reduced their price objective on shares of Prothena from $76.00 to $72.00 and set a buy rating for the company in a research report on Monday, February 27th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $82.50.

Prothena Stock Performance

PRTA stock opened at $48.27 on Thursday. Prothena has a twelve month low of $21.06 and a twelve month high of $66.47. The business has a 50 day moving average price of $53.84 and a two-hundred day moving average price of $52.66.

Prothena (NASDAQ:PRTA – Get Rating) last released its earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.76. The business had revenue of $49.90 million during the quarter, compared to analysts’ expectations of $29.14 million. Prothena had a negative net margin of 216.95% and a negative return on equity of 24.98%. The firm’s revenue was up 4058.3% on a year-over-year basis. During the same period last year, the business earned ($0.71) earnings per share. Equities research analysts forecast that Prothena will post -3.7 EPS for the current fiscal year.

Insider Buying and Selling at Prothena

In other Prothena news, CAO Karin L. Walker sold 20,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $48.42, for a total transaction of $968,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Prothena news, CFO Tran Nguyen sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $58.97, for a total value of $589,700.00. Following the completion of the sale, the chief financial officer now owns 3,200 shares of the company’s stock, valued at approximately $188,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Karin L. Walker sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $48.42, for a total transaction of $968,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,834 shares of company stock valued at $5,272,037 in the last ninety days. 31.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prothena

Several institutional investors have recently made changes to their positions in PRTA. China Universal Asset Management Co. Ltd. bought a new position in Prothena during the 3rd quarter worth $27,000. Point72 Middle East FZE acquired a new stake in shares of Prothena during the 4th quarter worth $48,000. Lazard Asset Management LLC increased its position in shares of Prothena by 61.1% in the first quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 657 shares during the period. Ergoteles LLC bought a new position in shares of Prothena in the third quarter worth $231,000. Finally, Point72 Hong Kong Ltd acquired a new position in Prothena in the first quarter valued at about $141,000. 91.72% of the stock is currently owned by institutional investors.

About Prothena

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Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm’s clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases.