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

Shares of Prothena Co. plc (NASDAQ:PRTA) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $62.86.

PRTA has been the topic of several recent analyst reports. HC Wainwright lowered their price objective on shares of Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday, August 12th. Royal Bank of Canada cut their price objective on Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. Oppenheimer decreased their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, JMP Securities cut their price target on Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th.

Prothena Stock Down 1.6 %

NASDAQ:PRTA opened at $20.90 on Thursday. Prothena has a twelve month low of $18.69 and a twelve month high of $56.04. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.43 and a beta of 0.18. The stock’s 50 day moving average price is $21.67 and its two-hundred day moving average price is $22.80.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $2.23. The business had revenue of $132.01 million for the quarter, compared to the consensus estimate 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 for the quarter was up 3184.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.03) earnings per share. As a group, analysts anticipate that Prothena will post -2.58 earnings per share for the current year.

Institutional Trading of Prothena

Several institutional investors have recently added to or reduced their stakes in the company. Boxer Capital LLC grew its stake in shares of Prothena by 6.4% in the fourth quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock valued at $24,166,000 after acquiring an additional 40,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Prothena by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares during the period. Armistice Capital LLC acquired a new stake in Prothena during the fourth quarter worth approximately $10,103,000. Price T Rowe Associates Inc. MD increased its stake 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 period. Finally, SG Americas Securities LLC raised its holdings in Prothena by 226.4% in the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock valued at $1,126,000 after acquiring an additional 37,852 shares in 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.