Prothena Co. plc (NASDAQ:PRTA) Receives $66.00 Consensus Target Price from Analysts

Shares of Prothena Co. plc (NASDAQ:PRTA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $66.00.

Several equities analysts have commented on the company. JMP Securities lowered their price target on Prothena from $85.00 to $83.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $28.00 price objective on shares of Prothena in a research note on Wednesday, June 26th.

Prothena Price Performance

NASDAQ PRTA opened at $19.68 on Friday. The company has a 50 day simple moving average of $21.59 and a 200-day simple moving average of $23.90. Prothena has a 52-week low of $18.69 and a 52-week high of $63.64. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.06 and a beta of 0.21.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13). Prothena had a negative return on equity of 30.48% and a negative net margin of 193.17%. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $3.75 million. During the same quarter in the prior year, the company posted ($0.89) EPS. On average, analysts predict that Prothena will post -4.54 EPS for the current year.

Institutional Investors Weigh In On Prothena

Institutional investors have recently bought and sold shares of the business. Boxer Capital LLC grew its position in Prothena by 6.4% during the 4th quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock worth $24,166,000 after acquiring an additional 40,000 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Prothena in the 4th quarter valued at $10,103,000. Price T Rowe Associates Inc. MD increased its holdings in Prothena by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock valued at $153,986,000 after purchasing an additional 417,338 shares during the last quarter. Granahan Investment Management LLC lifted its stake in Prothena by 19.9% in the fourth quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock valued at $15,159,000 after buying an additional 69,092 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Prothena by 37.7% during the fourth quarter. E Fund Management Co. Ltd. now owns 11,096 shares of the biotechnology company’s stock worth $403,000 after buying an additional 3,037 shares during the last quarter. Institutional investors and hedge funds 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.