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

Prothena Co. plc (NASDAQ:PRTA) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.29.

PRTA has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $48.00 target price (down previously from $84.00) on shares of Prothena in a research note on Friday, December 20th. Chardan Capital began coverage on shares of Prothena in a research report on Friday, December 20th. They issued a “buy” rating and a $40.00 price objective on the stock. Bank of America decreased their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Monday, September 30th.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC lifted its position in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 863 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Prothena by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 4,026 shares during the last quarter. Intech Investment Management LLC bought a new stake in Prothena in the 3rd quarter valued at $210,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 1,186 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Prothena during the 3rd quarter worth $260,000. Institutional investors own 97.08% of the company’s stock.

Prothena Stock Up 7.6 %

Prothena stock opened at $14.15 on Wednesday. Prothena has a twelve month low of $11.70 and a twelve month high of $41.54. The company has a 50 day moving average of $15.12 and a 200-day moving average of $18.53. The stock has a market capitalization of $761.40 million, a PE ratio of -5.71 and a beta of 0.10.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.18) by $0.08. The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Equities 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.