Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Price Target at $52.29

Prothena Co. plc (NASDAQ:PRTA) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $52.29.

PRTA has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Chardan Capital began coverage on Prothena in a research note on Friday, December 20th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective (down from $84.00) on shares of Prothena in a research report on Friday, December 20th. Bank of America cut their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th.

Institutional Trading of Prothena

Large investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after buying an additional 863 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Prothena by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 4,026 shares during the period. Intech Investment Management LLC purchased a new stake in Prothena in the 3rd quarter valued at $210,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Prothena during the 3rd quarter worth $260,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Price Performance

Shares of NASDAQ PRTA opened at $13.87 on Wednesday. The company has a market cap of $746.33 million, a price-to-earnings ratio of -5.59 and a beta of 0.10. The stock’s 50-day moving average is $15.30 and its two-hundred day moving average is $18.64. Prothena has a 1-year low of $11.70 and a 1-year high of $41.54.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. Equities research analysts anticipate that Prothena will post -2.24 earnings per share 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.