Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) fell 2.3% on Thursday . The company traded as low as $24.53 and last traded at $24.57. 14,520 shares were traded during mid-day trading, a decline of 98% from the average session volume of 812,634 shares. The stock had previously closed at $25.16.
Analyst Ratings Changes
PRTA has been the topic of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Prothena in a research note on Wednesday, March 13th. StockNews.com lowered Prothena from a "hold" rating to a "sell" rating in a research note on Monday, February 19th. Oppenheimer cut their price target on shares of Prothena from $98.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Prothena in a report on Tuesday, December 12th. They set a "buy" rating and a $62.00 price target on the stock. Finally, Cantor Fitzgerald dropped their price objective on shares of Prothena from $129.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.63.
Check Out Our Latest Stock Analysis on Prothena
Prothena Stock Performance
The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -8.85 and a beta of 0.22. The business has a 50 day simple moving average of $28.14 and a 200-day simple moving average of $35.97.
Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $2.15 million. During the same quarter last year, the company posted $0.12 EPS. The company's quarterly revenue was down 99.4% compared to the same quarter last year. As a group, research analysts anticipate that Prothena Co. plc will post -4.87 earnings per share for the current year.
Insider Activity at Prothena
In other news, CAO Karin L. Walker sold 5,000 shares of the business'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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 28.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Prothena
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its position in Prothena by 0.4% in the first quarter. Cubist Systematic Strategies LLC now owns 40,900 shares of the biotechnology company's stock worth $1,982,000 after acquiring an additional 181 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Prothena by 8.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,423 shares of the biotechnology company's stock valued at $234,000 after purchasing an additional 281 shares during the last quarter. Royal Bank of Canada grew its holdings in Prothena by 3.5% during the third quarter. Royal Bank of Canada now owns 8,463 shares of the biotechnology company's stock valued at $409,000 after purchasing an additional 290 shares during the period. Oppenheimer & Co. Inc. increased its position in Prothena by 3.9% in the third quarter. Oppenheimer & Co. Inc. now owns 7,908 shares of the biotechnology company's stock worth $382,000 after buying an additional 295 shares during the last quarter. Finally, Credit Suisse AG raised its stake in shares of Prothena by 1.3% in the second quarter. Credit Suisse AG now owns 27,724 shares of the biotechnology company's stock valued at $753,000 after buying an additional 369 shares during the period. 97.08% of the stock is owned by hedge funds and other institutional investors.
About Prothena
(
Get Free Report)
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.
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