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

Prothena Co. plc (NASDAQ:PRTA) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $55.00.

A number of equities analysts recently weighed in on PRTA shares. Piper Sandler increased their price target on Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $48.00 target price on shares of Prothena in a report on Friday, February 21st. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Finally, Chardan Capital reissued a “buy” rating and set a $40.00 target price on shares of Prothena in a research note on Friday, February 21st.

Prothena Price Performance

PRTA stock opened at $13.74 on Monday. The firm has a market cap of $739.58 million, a PE ratio of -5.97 and a beta of -0.02. Prothena has a 12 month low of $11.70 and a 12 month high of $26.75. The firm has a 50 day simple moving average of $14.40 and a 200 day simple moving average of $16.10.

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

Hedge Funds Weigh In On Prothena

A number of hedge funds have recently modified their holdings of PRTA. Orion Portfolio Solutions LLC grew its stake in Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings 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. China Universal Asset Management Co. Ltd. grew its stake in shares of Prothena by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company’s stock valued at $158,000 after buying an additional 1,065 shares in the last quarter. Rhumbline Advisers increased its holdings in Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock worth $930,000 after buying an additional 1,175 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Prothena by 6.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,269 shares of the biotechnology company’s stock valued at $381,000 after acquiring an additional 1,551 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.