Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $61.86

Prothena Co. plc (NASDAQ:PRTA) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $61.86.

Several equities analysts recently weighed in on the company. Oppenheimer dropped their price objective 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 dropped their price target 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Bank of America cut their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st.

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently modified their holdings of PRTA. Signaturefd LLC boosted its position in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 863 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Prothena in the first quarter valued at $96,000. China Universal Asset Management Co. Ltd. increased its stake in Prothena by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 4,026 shares during the last quarter. Intech Investment Management LLC acquired a new position in Prothena in the third quarter valued at $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the period. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Stock Down 6.6 %

NASDAQ:PRTA opened at $16.10 on Tuesday. The firm’s fifty day simple moving average is $18.32 and its 200-day simple moving average is $20.38. The stock has a market cap of $865.86 million, a PE ratio of -6.49 and a beta of 0.16. Prothena has a fifty-two week low of $15.30 and a fifty-two week high of $41.54.

Prothena (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.03%. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was down 98.9% compared to the same quarter last year. Equities analysts anticipate that Prothena will post -2.34 earnings per share for the current year.

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.