Prothena (NASDAQ:PRTA) Trading 5.7% Higher – Time to Buy?

Prothena Co. plc (NASDAQ:PRTAGet Free Report) rose 5.7% during mid-day trading on Tuesday . The company traded as high as $18.59 and last traded at $18.59. Approximately 105,632 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 587,920 shares. The stock had previously closed at $17.59.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRTA shares. Royal Bank of Canada reduced their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Oppenheimer reduced their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Bank of America reduced their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, HC Wainwright restated a “buy” rating and issued a $84.00 target price on shares of Prothena in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

View Our Latest Analysis on Prothena

Prothena Trading Down 6.0 %

The company has a market capitalization of $914.26 million, a PE ratio of -17.78 and a beta of 0.17. The firm’s 50-day simple moving average is $19.26 and its 200-day simple moving average is $20.67.

Prothena (NASDAQ:PRTAGet Free Report) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $2.23. The company had revenue of $132.01 million during the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The firm’s quarterly revenue was up 3184.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.03) EPS. As a group, analysts anticipate that Prothena Co. plc will post -2.34 EPS for the current year.

Institutional Investors Weigh In On Prothena

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Prothena by 265.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Prothena during the 1st quarter worth $342,000. Headlands Technologies LLC bought a new stake in Prothena during the first quarter valued at about $96,000. ProShare Advisors LLC boosted its position in Prothena by 8.9% during the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 932 shares in the last quarter. Finally, Focused Wealth Management Inc boosted its position in Prothena by 7,751.9% during the first quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 10,000 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.