Prothena (NASDAQ:PRTA) Given New $50.00 Price Target at JMP Securities

Prothena (NASDAQ:PRTAGet Rating) had its price target decreased by equities researchers at JMP Securities from $77.00 to $50.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 92.68% from the company’s previous close.

A number of other research firms also recently weighed in on PRTA. Zacks Investment Research upgraded shares of Prothena from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research note on Wednesday, April 20th. StockNews.com assumed coverage on shares of Prothena in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup decreased their price target on shares of Prothena from $87.00 to $73.00 in a research note on Friday, February 18th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Prothena has an average rating of “Buy” and a consensus price target of $62.27.

Shares of PRTA stock opened at $25.95 on Wednesday. Prothena has a 1 year low of $23.82 and a 1 year high of $79.75. The firm’s fifty day simple moving average is $32.92 and its 200 day simple moving average is $38.79. The firm has a market capitalization of $1.21 billion, a P/E ratio of 21.27 and a beta of 1.37.

In other Prothena news, Director Richard T. Collier sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $39.41, for a total transaction of $197,050.00. Following the completion of the sale, the director now directly owns 1,219 shares of the company’s stock, valued at approximately $48,040.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ecor1 Capital, Llc acquired 1,062,736 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were purchased at an average cost of $29.02 per share, with a total value of $30,840,598.72. Following the completion of the acquisition, the insider now directly owns 11,584,280 shares in the company, valued at approximately $336,175,805.60. The disclosure for this purchase can be found here. 31.20% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Prothena by 2.7% during the 4th quarter. BlackRock Inc. now owns 3,872,300 shares of the biotechnology company’s stock worth $191,292,000 after acquiring an additional 102,596 shares during the last quarter. State Street Corp boosted its position in Prothena by 20.0% during the 1st quarter. State Street Corp now owns 2,367,583 shares of the biotechnology company’s stock worth $86,583,000 after acquiring an additional 394,633 shares during the last quarter. First Light Asset Management LLC boosted its position in Prothena by 13.3% during the 1st quarter. First Light Asset Management LLC now owns 1,838,548 shares of the biotechnology company’s stock worth $67,236,000 after acquiring an additional 215,607 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Prothena by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,505,156 shares of the biotechnology company’s stock worth $55,044,000 after acquiring an additional 6,619 shares during the last quarter. Finally, Rock Springs Capital Management LP boosted its position in Prothena by 2.4% during the 1st quarter. Rock Springs Capital Management LP now owns 663,530 shares of the biotechnology company’s stock worth $24,265,000 after acquiring an additional 15,800 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

About Prothena (Get Rating)

Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.

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