Prothena Co. PLC (NASDAQ:PRTA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, April 18th. The firm currently has a $59.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 4.93% from the stock’s current price.
According to Zacks, “Prothena’s company’s efforts on developing its pipeline are encouraging. Prothena’s license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration not only boosts Prothena’s pipeline development but also provides it with funds in the form of research reimbursement and milestone payments.The company’s shares have outperformed the Medical/Biomedical Genetics industry in the past one year. However, Prothena is highly dependent on its collaboration partners for the development of its candidates. The company itself does not have enough resources to independently conduct studies on its candidates. Loss estimates for 2017 have narrowed in the last thirty days.”
PRTA has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of Prothena Co. PLC in a report on Wednesday, February 15th. SunTrust Banks, Inc. initiated coverage on Prothena Co. PLC in a report on Tuesday, December 20th. They issued a “buy” rating and a $75.00 price objective on the stock. Instinet initiated coverage on Prothena Co. PLC in a report on Wednesday, March 1st. They issued a “buy” rating and a $87.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Prothena Co. PLC in a report on Wednesday, April 12th. They issued an “overweight” rating and a $69.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on Prothena Co. PLC in a report on Wednesday, April 12th. They issued an “overweight” rating and a $86.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $75.50.
Prothena Co. PLC (NASDAQ:PRTA) traded up 2.17% on Tuesday, hitting $57.45. The stock had a trading volume of 354,627 shares. Prothena Co. PLC has a 52 week low of $33.53 and a 52 week high of $68.18. The company’s market capitalization is $2.18 billion. The firm has a 50-day moving average of $53.00 and a 200 day moving average of $53.32.
Prothena Co. PLC (NASDAQ:PRTA) last issued its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.32) by $0.33. The business had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.26 million. Prothena Co. PLC had a negative return on equity of 32.65% and a negative net margin of 11,365.41%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) EPS. On average, analysts predict that Prothena Co. PLC will post ($4.83) earnings per share for the current year.
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In related news, insider Karin L. Walker sold 5,000 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $52.25, for a total transaction of $261,250.00. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at $156,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis J. Selkoe sold 3,500 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $55.86, for a total transaction of $195,510.00. Following the transaction, the director now owns 6,345 shares of the company’s stock, valued at approximately $354,431.70. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Woodford Investment Management Ltd increased its position in Prothena Co. PLC by 7.7% in the first quarter. Woodford Investment Management Ltd now owns 11,106,211 shares of the biotechnology company’s stock valued at $619,282,000 after buying an additional 795,700 shares in the last quarter. FMR LLC increased its position in Prothena Co. PLC by 9.4% in the first quarter. FMR LLC now owns 5,659,308 shares of the biotechnology company’s stock valued at $315,733,000 after buying an additional 486,044 shares in the last quarter. Wellington Management Group LLP increased its position in Prothena Co. PLC by 4.6% in the first quarter. Wellington Management Group LLP now owns 3,158,012 shares of the biotechnology company’s stock valued at $176,185,000 after buying an additional 138,979 shares in the last quarter. BlackRock Inc. increased its position in Prothena Co. PLC by 95,458.7% in the first quarter. BlackRock Inc. now owns 2,733,934 shares of the biotechnology company’s stock valued at $152,526,000 after buying an additional 2,731,073 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Prothena Co. PLC by 5.6% in the third quarter. BlackRock Fund Advisors now owns 1,337,144 shares of the biotechnology company’s stock valued at $80,189,000 after buying an additional 71,287 shares in the last quarter.
About Prothena Co. PLC
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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