Prothena Co. plc (NASDAQ:PRTA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Prothena Co. plc (NASDAQ:PRTA) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $46.50.

A number of research analysts recently weighed in on PRTA shares. HC Wainwright reissued a “buy” rating and issued a $48.00 target price (down from $84.00) on shares of Prothena in a report on Friday, December 20th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Chardan Capital started coverage on shares of Prothena in a report on Friday, December 20th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Bank of America reduced their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Orion Portfolio Solutions LLC boosted its holdings in Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after acquiring an additional 739 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after buying an additional 1,065 shares in the last quarter. Rhumbline Advisers boosted its position in Prothena by 1.8% in the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after buying an additional 1,175 shares during the period. Pinnacle Associates Ltd. boosted its holdings 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 valued at $2,104,000 after purchasing an additional 2,847 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Prothena by 3.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,071 shares of the biotechnology company’s stock worth $1,440,000 after buying an additional 3,163 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Price Performance

PRTA stock opened at $14.70 on Friday. The company has a market capitalization of $791.01 million, a price-to-earnings ratio of -5.93 and a beta of 0.10. Prothena has a 1-year low of $11.70 and a 1-year high of $31.03. The business has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $17.80.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate 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 business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. Sell-side analysts anticipate 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.