Prothena (NASDAQ:PRTA) Stock Price Up 7.4%

Prothena Co. plc (NASDAQ:PRTA)’s share price rose 7.4% on Friday . The company traded as high as $22.33 and last traded at $22.26. Approximately 138,425 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 584,888 shares. The stock had previously closed at $20.72.

Analyst Ratings Changes

PRTA has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Monday, August 12th. Oppenheimer cut their price target on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Royal Bank of Canada decreased their price objective on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Finally, StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.86.

Prothena Stock Performance

The company’s 50 day simple moving average is $21.74 and its 200 day simple moving average is $22.45. The stock has a market cap of $1.19 billion, a PE ratio of -6.80 and a beta of 0.18.

Prothena (NASDAQ:PRTA) last released its 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 during the quarter, compared to analyst estimates of $10.73 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. Prothena’s quarterly revenue was up 3184.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.03) earnings per share. Equities research analysts expect that Prothena Co. plc will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of hedge funds have recently made changes to their positions in the business. DCF Advisers LLC grew its position in Prothena by 0.5% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock valued at $2,219,000 after buying an additional 500 shares during the period. Signaturefd LLC boosted its stake 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. ProShare Advisors LLC grew its position in shares of Prothena by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 932 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.

About Prothena

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.