Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $31.50

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have been assigned an average rating of "Hold" from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $31.50.

A number of brokerages have recently issued reports on PRTA. Royal Bank of Canada reduced their price objective on Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. HC Wainwright decreased their price objective on Prothena from $30.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Jefferies Financial Group cut Prothena from a "buy" rating to a "hold" rating and set a $6.00 price objective on the stock. in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Finally, Bank of America reaffirmed an "underperform" rating on shares of Prothena in a research report on Wednesday, May 28th.

Institutional Investors Weigh In On Prothena

A number of large investors have recently bought and sold shares of the company. Siren L.L.C. lifted its holdings in shares of Prothena by 16.7% during the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock worth $15,884,000 after acquiring an additional 183,715 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Prothena during the first quarter valued at approximately $230,000. Birchview Capital LP lifted its stake in Prothena by 9.3% during the first quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company's stock worth $4,121,000 after purchasing an additional 28,400 shares during the last quarter. PDT Partners LLC boosted its holdings in shares of Prothena by 18.2% in the 1st quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company's stock valued at $1,860,000 after purchasing an additional 23,113 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Prothena by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company's stock valued at $64,344,000 after purchasing an additional 68,652 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Price Performance

PRTA stock traded up $0.05 during midday trading on Friday, reaching $4.88. 1,140,960 shares of the company were exchanged, compared to its average volume of 697,851. Prothena has a one year low of $4.32 and a one year high of $25.42. The firm has a market capitalization of $262.68 million, a price-to-earnings ratio of -2.12 and a beta of 0.11. The business has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $12.25.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $8.18 million. During the same period in the previous year, the firm posted ($1.34) EPS. The business's quarterly revenue was up 5500.0% on a year-over-year basis. As a group, analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

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.