Prothena (NASDAQ:PRTA) Hits New 52-Week Low at $18.40

Prothena Co. plc (NASDAQ:PRTA)’s share price hit a new 52-week low on Monday . The stock traded as low as $18.40 and last traded at $18.40, with a volume of 37223 shares. The stock had previously closed at $20.05.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Oppenheimer decreased their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Monday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.86.

Prothena Stock Performance

The company has a market capitalization of $982.41 million, a P/E ratio of -5.34 and a beta of 0.18. The firm’s fifty day moving average is $21.52 and its 200-day moving average is $21.89.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $2.23. The company had revenue of $132.01 million for the quarter, compared to analyst estimates of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The firm’s revenue was up 3184.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.03) EPS. As a group, analysts expect that Prothena Co. plc will post -2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Boxer Capital LLC grew its holdings in Prothena by 6.4% during the 4th quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock worth $24,166,000 after acquiring an additional 40,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Prothena by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock worth $27,873,000 after acquiring an additional 54,728 shares during the last quarter. Armistice Capital LLC bought a new stake in Prothena during the 4th quarter worth approximately $10,103,000. Price T Rowe Associates Inc. MD grew its holdings in Prothena by 10.9% during the 4th 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. Finally, SG Americas Securities LLC grew its holdings in Prothena by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock worth $1,126,000 after acquiring an additional 37,852 shares during the last quarter. 97.08% of the stock is owned by institutional investors.

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.