Prothena Corporation plc (NASDAQ:PRTA) Stock Has Average Target Price of $20.00

Key Points

• Analysts rate Prothena a “Moderate Buy”, with a consensus 12-month price target of $20.00 from seven analysts.
• Prothena’s latest quarterly results missed estimates: earnings were a loss of $0.32 per share versus an expected loss of $0.23, while revenue was $0.62 million versus forecasts of $9.58 million.
• Insiders bought 1,017,500 shares worth about $8.65 million over the past 90 days; institutional investors and hedge funds own 97.08% of the stock.

Shares of Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $20.00.

Several research firms recently commented on PRTA. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen downgraded Prothena from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings cut shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, October 29th. Finally, UBS Group reaffirmed a "buy" rating on shares of Prothena in a report on Friday, July 24th.

Insiders Place Their Bets

In related news, major shareholder William P. Scully purchased 50,000 shares of the business's stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of $8.07 per share, with a total value of $403,500.00. Following the acquisition, the insider owned 1,187,000 shares of the company's stock, valued at $9,579,090. This represents a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased 1,017,500 shares of company stock valued at $8,654,850 in the last ninety days. Insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rubric Capital Management LP increased its holdings in shares of Prothena by 36.0% in the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock valued at $48,600,000 after acquiring an additional 1,322,669 shares during the last quarter. Renaissance Technologies LLC increased its position in Prothena by 39.5% in the 1st quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company's stock worth $5,905,000 after buying an additional 172,000 shares during the period. ADAR1 Capital Management LLC raised its position in Prothena by 8.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company's stock worth $15,372,000 after purchasing an additional 123,679 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Prothena in the 2nd quarter valued at approximately $413,000. Finally, Engineers Gate Manager LP acquired a new position in Prothena in the second quarter valued at about $404,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Price Performance

PRTA opened at $7.97 on Friday. The business's 50-day moving average price is $8.65 and its two-hundred day moving average price is $9.20. The company has a market capitalization of $417.23 million, a price-to-earnings ratio of -16.60, a P/E/G ratio of 2.92 and a beta of -0.20. Prothena has a 1 year low of $7.73 and a 1 year high of $11.80.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%. The firm had revenue of $0.62 million for the quarter, compared to analyst estimates of $9.58 million. Sell-side analysts anticipate that Prothena will post 0.08 earnings per share for the current fiscal year.

About Prothena

Prothena Corporation plc NASDAQ: PRTA is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company's product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson's disease.

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