Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $55.00

Prothena Co. plc (NASDAQ:PRTA) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $55.00.

Several equities research analysts recently commented on PRTA shares. Piper Sandler upped their price target on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of Prothena in a research report on Friday, February 21st. Oppenheimer upped their price target on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Finally, Chardan Capital restated a “buy” rating and issued a $40.00 price target on shares of Prothena in a research report on Friday, February 21st.

Prothena Price Performance

PRTA stock opened at $12.97 on Monday. Prothena has a 12 month low of $11.70 and a 12 month high of $26.37. The firm has a market cap of $698.14 million, a PE ratio of -5.64 and a beta of -0.02. The firm has a 50 day simple moving average of $14.33 and a 200 day simple moving average of $15.87.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Orion Portfolio Solutions LLC increased its stake in shares of Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after purchasing an additional 739 shares during the last quarter. Virtus ETF Advisers LLC increased 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 purchasing an additional 833 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Prothena by 10.3% during the 4th 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 last quarter. Rhumbline Advisers increased its stake in shares of Prothena by 1.8% during the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock worth $930,000 after purchasing an additional 1,175 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Prothena by 6.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock worth $381,000 after purchasing an additional 1,551 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

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.