Prothena Co. plc (NASDAQ:PRTA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $52.29.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRTA. Barclays PLC boosted its position in Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 49,916 shares during the period. Armistice Capital LLC lifted its position in shares of Prothena by 42.3% in the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after purchasing an additional 464,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Prothena by 1,122.9% during the third 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 purchasing an additional 483,673 shares during the period. Federated Hermes Inc. purchased a new position in Prothena during the second quarter valued at approximately $905,000. Finally, Duncan Williams Asset Management LLC acquired a new position in Prothena in the 3rd quarter valued at approximately $816,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Price Performance

PRTA opened at $13.87 on Wednesday. The business has a 50 day moving average price of $15.30 and a two-hundred day moving average price of $18.63. The company has a market capitalization of $746.33 million, a price-to-earnings ratio of -5.59 and a beta of 0.10. Prothena has a 1-year low of $11.70 and a 1-year high of $41.54.

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