Prothena Corporation plc (NASDAQ:PRTA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Prothena Corporation plc (NASDAQ:PRTA) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong 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 $24.5714.

A number of brokerages recently weighed in on PRTA. Weiss Ratings raised shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 9th. Wall Street Zen downgraded shares of Prothena from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Prothena in a research report on Friday, July 24th. Finally, UBS Group reiterated a “buy” rating on shares of Prothena in a research note on Friday, July 24th.

Prothena Trading Up 5.6%

Shares of Prothena stock opened at $8.99 on Friday. The business’s fifty day simple moving average is $8.91 and its 200 day simple moving average is $9.40. The firm has a market capitalization of $470.63 million, a P/E ratio of -10.70, a price-to-earnings-growth ratio of 3.00 and a beta of -0.33. Prothena has a 12 month low of $7.73 and a 12 month high of $11.80.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%.The firm had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.42 million. Analysts predict that Prothena will post 0.08 EPS for the current fiscal year.

Insider Transactions at Prothena

In related news, insider Anne Kingston sold 7,662 shares of Prothena stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $8.47, for a total value of $64,897.14. Following the sale, the insider owned 55,782 shares of the company’s stock, valued at approximately $472,473.54. The trade was a 12.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael Isaacs sold 8,386 shares of Prothena stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total transaction of $71,029.42. Following the completion of the sale, the general counsel directly owned 35,745 shares in the company, valued at $302,760.15. This trade represents a 19.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 177,000 shares of company stock worth $1,538,190 in the last quarter. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP raised its holdings in shares of Prothena by 36.0% during the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock valued at $48,600,000 after buying an additional 1,322,669 shares in the last quarter. Penbrook Management LLC purchased a new stake in Prothena in the first quarter worth approximately $2,641,000. Renaissance Technologies LLC boosted its stake in Prothena by 39.5% in the first quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock worth $5,905,000 after buying an additional 172,000 shares in the last quarter. ADAR1 Capital Management LLC grew its position in Prothena by 8.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company’s stock valued at $15,372,000 after acquiring an additional 123,679 shares during the last quarter. Finally, Focused Wealth Management Inc grew its position in Prothena by 93.0% during the first quarter. Focused Wealth Management Inc now owns 207,403 shares of the biotechnology company’s stock valued at $2,016,000 after acquiring an additional 99,924 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Company Profile

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel therapies for neurodegenerative and other protein-misfolding diseases. The company’s research is based on targeting abnormal proteins and the biological processes associated with their accumulation in tissue.

Prothena’s lead programs include birtamimab, an investigational antibody being developed for patients with AL amyloidosis, and prasinezumab, an investigational antibody targeting alpha-synuclein for Parkinson’s disease.