Prothena Co. plc (NASDAQ:PRTA) Receives $61.86 Average Target Price from Analysts

Shares of Prothena Co. plc (NASDAQ:PRTA) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.86.

A number of analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Oppenheimer decreased their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $84.00 target price on shares of Prothena in a research note on Tuesday, October 1st. Royal Bank of Canada decreased their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, Bank of America reduced their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st.

Prothena Price Performance

Shares of PRTA opened at $17.11 on Friday. The firm has a 50 day simple moving average of $19.87 and a two-hundred day simple moving average of $21.03. The company has a market cap of $920.04 million, a P/E ratio of -5.26 and a beta of 0.17. Prothena has a one year low of $15.52 and a one year high of $45.93.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. The firm had revenue of $132.01 million for the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The company’s revenue was up 3184.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. On average, analysts expect that Prothena will post -2.34 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Institutional investors have recently modified their holdings of the business. Creative Planning acquired a new position in Prothena in the third quarter valued at $350,000. Duncan Williams Asset Management LLC acquired a new position in Prothena in the third quarter valued at $816,000. Systematic Financial Management LP lifted its holdings in Prothena by 25.8% in the second quarter. Systematic Financial Management LP now owns 193,763 shares of the biotechnology company’s stock valued at $3,999,000 after buying an additional 39,771 shares during the period. Algert Global LLC lifted its holdings in Prothena by 59.7% in the second quarter. Algert Global LLC now owns 77,191 shares of the biotechnology company’s stock valued at $1,593,000 after buying an additional 28,841 shares during the period. Finally, Armistice Capital LLC lifted its holdings in Prothena by 42.3% in the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after buying an additional 464,000 shares during the period. Institutional investors own 97.08% of the company’s stock.

About Prothena

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.