Analysts Set Prothena Corporation plc (NASDAQ:PRTA) Price Target at $21.67

Prothena Corporation plc (NASDAQ:PRTA) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.6667.

Several research firms have recently issued reports on PRTA. Deutsche Bank Aktiengesellschaft set a $19.00 price target on Prothena in a research report on Monday, December 1st. Citigroup restated a “market outperform” rating on shares of Prothena in a research note on Friday, March 13th. Citizens Jmp set a $19.00 target price on shares of Prothena in a report on Monday, December 1st. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a report on Monday, December 29th.

Institutional Trading of Prothena

Institutional investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP bought a new stake in shares of Prothena in the 4th quarter worth $414,000. XTX Topco Ltd lifted its holdings in shares of Prothena by 247.2% during the fourth quarter. XTX Topco Ltd now owns 54,881 shares of the biotechnology company’s stock valued at $524,000 after purchasing an additional 39,073 shares in the last quarter. Virtus Investment Advisers LLC boosted its position in shares of Prothena by 14.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 25,679 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 3,236 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its position in shares of Prothena by 103.1% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 58,853 shares of the biotechnology company’s stock valued at $562,000 after buying an additional 29,878 shares during the last quarter. Finally, Polymer Capital Management US LLC bought a new stake in Prothena in the 4th quarter worth about $225,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Price Performance

PRTA stock opened at $9.26 on Friday. Prothena has a twelve month low of $4.32 and a twelve month high of $13.22. The firm has a market cap of $498.47 million, a PE ratio of -2.04, a price-to-earnings-growth ratio of 0.62 and a beta of -0.24. The business has a 50 day moving average of $9.16 and a 200 day moving average of $9.59.

Prothena (NASDAQ:PRTA) last released its earnings results on Thursday, February 19th. The biotechnology company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.01. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,520.57%.The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.67 million. On average, research analysts expect that Prothena will post -4.04 earnings per share for the current fiscal year.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.