Prothena Co. plc (NASDAQ:PRTA) Receives $46.50 Consensus PT from Analysts

Prothena Co. plc (NASDAQ:PRTA) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.83.

Several analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America reduced their price target on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Friday. Chardan Capital reissued a “buy” rating and set a $40.00 price target on shares of Prothena in a report on Friday. Finally, Royal Bank of Canada reduced their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday.

Prothena Price Performance

PRTA stock opened at $15.56 on Thursday. Prothena has a 1-year low of $11.70 and a 1-year high of $31.03. The firm has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $16.77. The firm has a market cap of $837.28 million, a price-to-earnings ratio of -6.77 and a beta of 0.08.

Prothena (NASDAQ:PRTA) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.12 million for the quarter, compared to the consensus estimate of $7.53 million. As a group, analysts expect that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP lifted its holdings in Prothena by 265.4% in the fourth quarter. Two Sigma Investments LP now owns 38,394 shares of the biotechnology company’s stock worth $532,000 after purchasing an additional 27,887 shares during the period. Rafferty Asset Management LLC lifted its holdings in Prothena by 24.8% in the fourth quarter. Rafferty Asset Management LLC now owns 77,672 shares of the biotechnology company’s stock worth $1,076,000 after purchasing an additional 15,442 shares during the period. ProShare Advisors LLC lifted its holdings in Prothena by 29.5% in the fourth quarter. ProShare Advisors LLC now owns 14,524 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 3,312 shares during the period. Man Group plc lifted its holdings in Prothena by 90.7% in the fourth quarter. Man Group plc now owns 77,430 shares of the biotechnology company’s stock worth $1,072,000 after purchasing an additional 36,824 shares during the period. Finally, Millennium Management LLC lifted its holdings in Prothena by 9.3% in the fourth quarter. Millennium Management LLC now owns 123,005 shares of the biotechnology company’s stock worth $1,704,000 after purchasing an additional 10,467 shares during the period. Institutional investors and hedge funds 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.