Prothena Co. plc (NASDAQ:PRTA) Receives $69.63 Average Target Price from Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $69.63.

A number of equities research analysts have recently issued reports on PRTA shares. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Prothena in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Prothena in a research report on Tuesday, December 12th. They set a "buy" rating and a $62.00 price objective for the company. Cantor Fitzgerald cut their price objective on shares of Prothena from $129.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, January 9th. StockNews.com cut shares of Prothena from a "hold" rating to a "sell" rating in a research report on Monday, February 19th. Finally, Oppenheimer cut their price objective on shares of Prothena from $98.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, February 20th.

Prothena Stock Up 5.6 %

Shares of Prothena stock traded up $1.38 during trading on Monday, reaching $26.15. The company's stock had a trading volume of 616,646 shares, compared to its average volume of 822,193. The business's 50-day moving average price is $27.82 and its 200-day moving average price is $35.30. The firm has a market cap of $1.40 billion, a PE ratio of -9.34 and a beta of 0.21. Prothena has a 52 week low of $24.25 and a 52 week high of $79.65.

Prothena (NASDAQ:PRTA - Get Free Report) last announced 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 company's revenue was down 99.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. Equities analysts predict that Prothena will post -4.87 earnings per share for the current year.

Insider Activity

In other news, CAO Karin L. Walker sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total value of $170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 28.20% of the stock is currently owned by insiders.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position 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 period. Price T Rowe Associates Inc. MD grew its position in shares of Prothena by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company's stock worth $153,986,000 after buying an additional 417,338 shares during the period. BlackRock Inc. grew its position in shares of Prothena by 4.0% during the 1st quarter. BlackRock Inc. now owns 3,624,627 shares of the biotechnology company's stock worth $175,686,000 after buying an additional 139,559 shares during the period. Wellington Management Group LLP grew its position in shares of Prothena by 21.1% during the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company's stock worth $94,270,000 after buying an additional 452,455 shares during the period. Finally, State Street Corp grew its position in shares of Prothena by 20.0% during the 1st quarter. State Street Corp now owns 2,367,583 shares of the biotechnology company's stock worth $86,583,000 after buying an additional 394,633 shares during the period. Institutional investors and hedge funds 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.