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

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

Several analysts have recently issued reports on PRTA shares. Oppenheimer upped their price objective on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Chardan Capital restated a “buy” rating and issued a $40.00 target price on shares of Prothena in a report on Friday. Royal Bank of Canada lowered 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. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of Prothena in a research report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Friday.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the period. SG Americas Securities LLC increased its holdings in shares of Prothena by 167.0% during the 4th quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after buying an additional 23,525 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prothena by 1,122.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after purchasing an additional 483,673 shares during the period. Duncan Williams Asset Management LLC raised its holdings in shares of Prothena by 41.9% in the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after purchasing an additional 20,450 shares during the period. Finally, Focused Wealth Management Inc acquired a new position in shares of Prothena in the 4th quarter valued at about $445,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Trading Down 2.1 %

Shares of PRTA opened at $15.23 on Thursday. The company has a 50-day moving average of $14.38 and a two-hundred day moving average of $16.73. The stock has a market cap of $819.51 million, a P/E ratio of -6.62 and a beta of 0.08. Prothena has a 12-month low of $11.70 and a 12-month high of $31.03.

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