Analysts Set Prothena Co. plc (NASDAQ:PRTA) PT at $68.14

Prothena Co. plc (NASDAQ:PRTA) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.14.

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Oppenheimer dropped their price target on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Prothena in a research report on Wednesday, March 13th. Bank of America reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Finally, JMP Securities upped their price objective on shares of Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, February 16th.

Prothena Trading Up 1.5 %

Shares of Prothena stock opened at $20.87 on Friday. The company has a 50 day moving average of $25.22 and a 200-day moving average of $31.85. The company has a market cap of $1.12 billion, a PE ratio of -7.45 and a beta of 0.21. Prothena has a 1-year low of $19.65 and a 1-year high of $79.65.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. The company had revenue of $0.32 million during the quarter, compared to analyst estimates of $2.15 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was down 99.4% on a year-over-year basis. Research analysts forecast that Prothena will post -4.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in Prothena by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 684 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Prothena in the 3rd quarter worth about $74,000. PNC Financial Services Group Inc. boosted its stake in Prothena by 265.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,122 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Prothena by 58.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,096 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 1,140 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of Prothena during the 4th quarter worth $222,000. Institutional investors own 97.08% of the company’s stock.

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.