Prothena Corporation plc (NASDAQ:PRTA) Given Consensus Rating of "Hold" by Analysts

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) has received a consensus recommendation of "Hold" from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $31.50.

Several equities analysts recently issued reports on the stock. Chardan Capital reduced their price target on shares of Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. HC Wainwright dropped their price objective on shares of Prothena from $30.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Bank of America reissued an "underperform" rating on shares of Prothena in a research note on Wednesday, May 28th. Piper Sandler dropped their price objective on shares of Prothena from $110.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research note on Friday, June 20th.

Prothena Price Performance

Shares of NASDAQ PRTA opened at $6.07 on Wednesday. Prothena has a 1 year low of $4.32 and a 1 year high of $25.42. The company's 50-day moving average is $6.91 and its 200 day moving average is $11.34. The stock has a market capitalization of $326.75 million, a P/E ratio of -2.92 and a beta of -0.08.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.20). Prothena had a negative net margin of 79.94% and a negative return on equity of 21.61%. The company had revenue of $2.83 million for the quarter, compared to analysts' expectations of $8.18 million. During the same quarter in the prior year, the firm earned ($1.34) EPS. Prothena's quarterly revenue was up 5500.0% compared to the same quarter last year. Research analysts anticipate that Prothena will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC lifted its stake in shares of Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock worth $74,000 after buying an additional 5,875 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock worth $102,000 after buying an additional 4,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Prothena in the first quarter worth approximately $126,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Prothena in the fourth quarter worth approximately $145,000. Institutional investors 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.

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