Analysts Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $62.86

Shares of Prothena Co. plc (NASDAQ:PRTA) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $62.86.

Several research analysts have recently commented on PRTA shares. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Oppenheimer lowered their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, August 12th. Finally, Royal Bank of Canada lowered their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th.

Prothena Price Performance

NASDAQ PRTA opened at $20.05 on Monday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -6.17 and a beta of 0.18. Prothena has a 12 month low of $18.69 and a 12 month high of $55.89. The company’s fifty day moving average price is $21.52 and its two-hundred day moving average price is $21.98.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, topping the consensus estimate of ($1.01) by $2.23. The business had revenue of $132.01 million for 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 company’s quarterly revenue was up 3184.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.03) earnings per share. As a group, analysts anticipate that Prothena will post -2.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boxer Capital LLC increased its holdings in shares of Prothena by 6.4% during the fourth quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock valued at $24,166,000 after purchasing an additional 40,000 shares during the period. Vanguard Group Inc. increased its stake in Prothena by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares during the period. Armistice Capital LLC acquired a new position in Prothena during the 4th quarter valued at about $10,103,000. Price T Rowe Associates Inc. MD raised its position in shares of Prothena by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after buying an additional 417,338 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Prothena by 226.4% in the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company’s stock worth $1,126,000 after acquiring an additional 37,852 shares during the period. Institutional investors own 97.08% of the company’s stock.

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.