Prothena Co. plc (NASDAQ:PRTA) Receives $55.00 Consensus PT from Brokerages

Prothena Co. plc (NASDAQ:PRTA) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $51.71.

A number of analysts have recently issued reports on PRTA shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. JMP Securities cut their target price on shares of Prothena from $80.00 to $78.00 and set a “market outperform” rating for the company in a research report on Friday. HC Wainwright dropped their price target on shares of Prothena from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Finally, Piper Sandler upped their target price on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th.

Prothena Stock Performance

NASDAQ PRTA opened at $7.43 on Tuesday. The stock has a market cap of $399.93 million, a price-to-earnings ratio of -3.23 and a beta of 0.11. The firm’s 50 day moving average price is $11.10 and its two-hundred day moving average price is $13.58. Prothena has a twelve month low of $6.92 and a twelve month high of $25.42.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $8.18 million. During the same period in the prior year, the company posted ($1.34) earnings per share. The firm’s revenue was up 5500.0% on a year-over-year basis. On average, research analysts forecast that Prothena will post -4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

Institutional investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC boosted its stake in shares of Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 833 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Prothena by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock worth $158,000 after purchasing an additional 1,065 shares during the period. Rhumbline Advisers grew its holdings in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Prothena by 6.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after purchasing an additional 1,551 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Prothena by 4.0% in the fourth quarter. Invesco Ltd. now owns 42,846 shares of the biotechnology company’s stock worth $593,000 after buying an additional 1,632 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.

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.