Prothena Co. plc (NASDAQ:PRTA) Receives $55.00 Consensus Price Target from Brokerages

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

PRTA has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Piper Sandler upped their price objective on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Bank of America lowered their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Finally, Oppenheimer increased their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 7th.

Prothena Stock Up 0.8 %

Shares of NASDAQ PRTA opened at $12.97 on Monday. The company’s fifty day simple moving average is $14.33 and its 200 day simple moving average is $15.80. Prothena has a 12-month low of $11.70 and a 12-month high of $26.36. The firm has a market cap of $698.14 million, a PE ratio of -5.64 and a beta of -0.02.

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

Institutional Trading of Prothena

Large investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC increased its holdings in Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after buying an additional 833 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 4,858 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Prothena in the fourth quarter worth about $145,000. Purkiss Capital Advisors LLC purchased a new position in shares of Prothena in the fourth quarter worth about $149,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Prothena by 10.3% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.