Prothena Co. plc (NASDAQ:PRTA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.00.

A number of research analysts have recently issued reports on PRTA shares. Piper Sandler boosted their price target on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their target price on Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Oppenheimer increased their price objective on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Friday, February 21st. Finally, Bank of America decreased their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th.

Prothena Trading Down 5.6 %

Prothena stock opened at $9.69 on Friday. The stock has a 50 day moving average of $13.45 and a two-hundred day moving average of $14.80. Prothena has a twelve month low of $9.30 and a twelve month high of $25.42. The stock has a market capitalization of $521.58 million, a price-to-earnings ratio of -4.21 and a beta of 0.07.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 22.67% and a negative net margin of 90.50%. Equities analysts predict that Prothena will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtus ETF Advisers LLC raised its holdings in shares of Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 833 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Prothena by 4,626.0% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 5,875 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Prothena by 196.5% during the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Prothena during the fourth quarter worth about $145,000. Finally, Purkiss Capital Advisors LLC acquired a new position in shares of Prothena in the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.