Prothena Co. plc (NASDAQ:PRTA) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have received an average recommendation of "Hold" from the nine ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.50.

A number of analysts recently issued reports on the stock. HC Wainwright decreased their target price on shares of Prothena from $30.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Piper Sandler decreased their price target on shares of Prothena from $110.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Oppenheimer lowered shares of Prothena from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 27th. Royal Bank of Canada decreased their price target on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target on the stock. in a report on Tuesday, May 27th.

Hedge Funds Weigh In On Prothena

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG raised its stake in shares of Prothena by 195.7% in the 4th quarter. Deutsche Bank AG now owns 95,970 shares of the biotechnology company's stock valued at $1,329,000 after acquiring an additional 63,512 shares during the period. SG Americas Securities LLC raised its stake in shares of Prothena by 167.0% in the 4th quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock valued at $521,000 after acquiring an additional 23,525 shares during the period. Barclays PLC raised its stake in shares of Prothena by 10.6% in the 4th quarter. Barclays PLC now owns 105,338 shares of the biotechnology company's stock valued at $1,458,000 after acquiring an additional 10,116 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Prothena during the 4th quarter worth $1,117,000. Finally, Rhumbline Advisers increased its stake in Prothena by 1.8% during the 4th quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after buying an additional 1,175 shares during the period. Hedge funds and other institutional investors own 97.08% of the company's stock.

Prothena Price Performance

Prothena stock traded up $0.11 during mid-day trading on Friday, reaching $4.77. The company had a trading volume of 733,153 shares, compared to its average volume of 691,833. Prothena has a 1 year low of $4.32 and a 1 year high of $25.42. The company has a market capitalization of $256.75 million, a P/E ratio of -2.07 and a beta of 0.11. The stock's 50-day simple moving average is $8.70 and its 200-day simple moving average is $12.36.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly 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 net margin of 90.50% and a negative return on equity of 22.67%. The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the prior year, the company earned ($1.34) earnings per share. The firm's revenue for the quarter was up 5500.0% compared to the same quarter last year. On average, equities analysts forecast that Prothena will post -4.04 EPS 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.