Prothena Corporation plc (NASDAQ:PRTA) Receives $30.25 Average PT from Analysts

Shares of Prothena Corporation plc (NASDAQ:PRTA) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $30.25.

PRTA has been the subject of a number of recent analyst reports. Royal Bank Of Canada dropped their price target on shares of Prothena from $18.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Prothena in a research report on Tuesday, August 5th. Oppenheimer cut shares of Prothena from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 27th. Jefferies Financial Group cut shares of Prothena from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research report on Tuesday, May 27th. Finally, Chardan Capital reissued a “buy” rating and issued a $18.00 price objective on shares of Prothena in a research report on Tuesday, August 5th.

Prothena Trading Up 2.4%

PRTA stock opened at $8.25 on Thursday. Prothena has a 12 month low of $4.32 and a 12 month high of $22.83. The company has a 50-day moving average price of $6.49 and a 200 day moving average price of $9.36. The stock has a market cap of $444.10 million, a PE ratio of -1.46 and a beta of -0.03.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.75). Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. The firm had revenue of $4.42 million for the quarter, compared to analysts’ expectations of $5.36 million. Sell-side analysts forecast that Prothena will post -4.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Prospera Financial Services Inc acquired a new position in Prothena during the 2nd quarter valued at approximately $61,000. Virtus ETF Advisers LLC increased its stake in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares in the last quarter. GAMMA Investing LLC increased its stake in Prothena by 4,626.0% during 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. Tower Research Capital LLC TRC increased its stake in Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 10,815 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in Prothena during the 2nd quarter valued at approximately $85,000. 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.