Analysts Set Prothena Co. plc (NASDAQ:PRTA) Price Target at $55.00

Prothena Co. plc (NASDAQ:PRTA) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $55.00.

Several research firms recently weighed in on PRTA. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Piper Sandler boosted their price objective on Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price on shares of Prothena in a research report on Friday, February 21st. Bank of America dropped their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada decreased their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, February 21st.

Prothena Price Performance

Prothena stock opened at $10.22 on Friday. Prothena has a 12 month low of $9.30 and a 12 month high of $25.42. The company has a market cap of $550.11 million, a price-to-earnings ratio of -4.44 and a beta of 0.07. The stock’s 50-day moving average is $13.37 and its 200-day moving average is $14.69.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.53 million. Research analysts anticipate that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PRTA. Virtus ETF Advisers LLC boosted its stake in shares of Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 833 shares during the last quarter. GAMMA Investing LLC raised its holdings in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 5,875 shares in the last quarter. Headlands Technologies LLC boosted its stake in Prothena by 196.5% during the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Prothena during the 4th quarter worth $145,000. Finally, Purkiss Capital Advisors LLC acquired a new position in Prothena during the 4th quarter worth $149,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.