Analysts Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $62.86

Prothena Co. plc (NASDAQ:PRTA) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $62.86.

A number of equities research analysts recently issued reports on the stock. JMP Securities dropped their price target on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 9th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, August 12th. HC Wainwright lowered their price objective on Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer reduced their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th.

Prothena Stock Performance

PRTA opened at $22.27 on Thursday. The company has a fifty day moving average of $21.63 and a two-hundred day moving average of $22.93. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.85 and a beta of 0.21. Prothena has a fifty-two week low of $18.69 and a fifty-two week high of $56.27.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $2.23. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The firm had revenue of $132.01 million during the quarter, compared to analyst estimates of $10.73 million. During the same quarter in the previous year, the business earned ($1.03) EPS. Prothena’s revenue for the quarter was up 3184.7% compared to the same quarter last year. On average, equities research analysts forecast that Prothena will post -2.58 earnings per share for the current year.

Institutional Trading of Prothena

A number of hedge funds and other institutional investors have recently modified their holdings of PRTA. Signaturefd LLC lifted its holdings in Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 863 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Prothena by 265.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after buying an additional 1,122 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Prothena in the 1st quarter valued at approximately $96,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 1,186 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Prothena in the 4th quarter worth approximately $222,000. 97.08% of the stock is owned by institutional investors and hedge funds.

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.