Prothena Co. plc (NASDAQ:PRTA) Receives $46.50 Consensus Target Price from Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $55.00.

A number of research analysts recently commented on the stock. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Monday. Piper Sandler boosted their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Oppenheimer boosted their price objective on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective on shares of Prothena in a research report on Friday, February 21st.

Institutional Trading of Prothena

A number of institutional investors have recently added to or reduced their stakes in PRTA. Creative Planning acquired a new stake in Prothena in the third quarter valued at approximately $350,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Prothena by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after buying an additional 4,026 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Prothena by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after buying an additional 2,847 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Prothena in the third quarter worth $484,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Prothena by 8.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after buying an additional 9,666 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Price Performance

Prothena stock opened at $14.55 on Thursday. The firm’s 50 day simple moving average is $14.45 and its 200-day simple moving average is $16.67. The company has a market cap of $782.92 million, a P/E ratio of -6.33 and a beta of 0.08. Prothena has a fifty-two week low of $11.70 and a fifty-two week high of $31.03.

Prothena (NASDAQ:PRTA) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The firm had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. On average, analysts expect that Prothena will post -4.04 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.