Prothena (NASDAQ:PRTA) PT Lowered to $24.00

Prothena (NASDAQ:PRTA) had its price target reduced by Royal Bank of Canada from $28.00 to $24.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on the company. JMP Securities dropped their target price on Prothena from $85.00 to $83.00 and set a market outperform rating for the company in a report on Thursday, May 9th. HC Wainwright dropped their price objective on Prothena from $90.00 to $84.00 and set a buy rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $65.43.

Prothena Trading Up 4.4 %

PRTA stock traded up $0.87 during midday trading on Friday, hitting $20.55. The stock had a trading volume of 568,747 shares, compared to its average volume of 443,330. Prothena has a 52 week low of $18.69 and a 52 week high of $63.64. The stock has a 50-day simple moving average of $21.59 and a 200 day simple moving average of $23.74. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.32 and a beta of 0.21.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative net margin of 193.17% and a negative return on equity of 30.48%. The business had revenue of $132.01 million for the quarter, compared to analyst estimates of $10.73 million. During the same period in the previous year, the business earned ($1.03) EPS. The firm’s revenue was up 3184.7% on a year-over-year basis. On average, equities analysts forecast that Prothena will post -4.54 EPS for the current year.

Institutional Trading of Prothena

Several large investors have recently made changes to their positions in the business. Artal Group S.A. lifted its position in Prothena by 99.7% during the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock worth $24,804,000 after buying an additional 500,000 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Prothena by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock worth $94,270,000 after acquiring an additional 452,455 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Prothena by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after acquiring an additional 417,338 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Prothena during the fourth quarter worth approximately $10,103,000. Finally, Granahan Investment Management LLC grew its stake in shares of Prothena by 19.9% during the fourth quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock valued at $15,159,000 after purchasing an additional 69,092 shares during the last quarter. 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.