Zurcher Kantonalbank Zurich Cantonalbank Has $348,000 Position in Prothena Co. plc (NASDAQ:PRTA)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Prothena Co. plc (NASDAQ:PRTA) by 28.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,563 shares of the biotechnology company’s stock after acquiring an additional 2,099 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Prothena were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Prothena by 1.5% during the 3rd quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock worth $387,461,000 after buying an additional 117,524 shares during the last quarter. TD Asset Management Inc grew its stake in Prothena by 93.1% in the third quarter. TD Asset Management Inc now owns 172,682 shares of the biotechnology company’s stock valued at $8,332,000 after purchasing an additional 83,269 shares in the last quarter. Sectoral Asset Management Inc. increased its position in shares of Prothena by 13.5% during the 3rd quarter. Sectoral Asset Management Inc. now owns 172,407 shares of the biotechnology company’s stock worth $8,319,000 after purchasing an additional 20,559 shares during the last quarter. Mariner LLC raised its position in Prothena by 24.3% during the third quarter. Mariner LLC now owns 167,932 shares of the biotechnology company’s stock worth $8,103,000 after acquiring an additional 32,870 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Prothena by 31.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 156,840 shares of the biotechnology company’s stock valued at $7,568,000 after acquiring an additional 37,262 shares during the period. Institutional investors own 97.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRTA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. Bank of America reissued a “neutral” rating and issued a $38.00 price target (down from $68.00) on shares of Prothena in a report on Tuesday, January 30th. Royal Bank of Canada reduced their price objective on Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Oppenheimer lowered their target price on Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, JMP Securities boosted their target price on shares of Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.14.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $22.93 on Friday. Prothena Co. plc has a 52 week low of $19.65 and a 52 week high of $79.65. The stock’s fifty day moving average is $24.65 and its 200 day moving average is $30.95. The stock has a market capitalization of $1.23 billion, a P/E ratio of -8.19 and a beta of 0.30.

Prothena (NASDAQ:PRTA) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $2.15 million. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. The business’s revenue was down 99.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities research analysts forecast that Prothena Co. plc will post -4.88 earnings per share for the current year.

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.