Prothena Co. plc (NASDAQ:PRTA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Prothena Co. plc (NASDAQ:PRTA) has received an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $55.00.

Several research analysts have commented on the stock. Chardan Capital restated a “buy” rating and issued a $40.00 target price on shares of Prothena in a research report on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $48.00 target price on shares of Prothena in a research report on Friday, February 21st. Oppenheimer upped their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Piper Sandler upped their target price on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th.

Institutional Trading of Prothena

A number of institutional investors have recently made changes to their positions in PRTA. Virtus ETF Advisers LLC lifted its stake in Prothena by 19.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares during the last quarter. Headlands Technologies LLC lifted its stake in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Prothena during the fourth quarter valued at approximately $145,000. Purkiss Capital Advisors LLC acquired a new stake in Prothena during the fourth quarter valued at approximately $149,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Prothena by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,065 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Stock Up 0.8 %

Shares of NASDAQ:PRTA opened at $12.97 on Monday. Prothena has a fifty-two week low of $11.70 and a fifty-two week high of $26.37. The firm has a 50-day simple moving average of $14.33 and a 200 day simple moving average of $15.87. The company has a market cap of $698.14 million, a PE ratio of -5.64 and a beta of -0.02.

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

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.