Prothena Corporation plc (NASDAQ:PRTA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Prothena Corporation plc (NASDAQ:PRTA) has received a consensus rating of "Hold" from nine brokerages, with one sell rating, four hold ratings, and four buy ratings.
• The average 12-month price objective for Prothena shares among analysts is $30.25, while the stock currently trades around $8.05.
• Prothena reported a significant earnings miss, with an EPS of ($1.86) for the quarter, missing estimates by ($0.75), and revenue of $4.42 million against a consensus of $5.36 million.

Shares of Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) have earned a consensus rating of "Hold" from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.25.

Several brokerages have recently commented on PRTA. Chardan Capital restated a "buy" rating and set a $18.00 target price on shares of Prothena in a report on Tuesday, August 5th. Oppenheimer cut Prothena from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 27th. Cantor Fitzgerald restated a "neutral" rating on shares of Prothena in a report on Friday, June 20th. Piper Sandler decreased their target price on Prothena from $110.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Finally, JMP Securities decreased their target price on Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a report on Tuesday, May 27th.

Hedge Funds Weigh In On Prothena

Large 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% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 833 shares during the period. GAMMA Investing LLC lifted its stake in Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after buying an additional 5,875 shares during the period. Prospera Financial Services Inc acquired a new position in Prothena in the second quarter valued at about $61,000. Cambridge Investment Research Advisors Inc. acquired a new position in Prothena in the first quarter valued at about $126,000. Finally, Cary Street Partners Financial LLC acquired a new position in Prothena in the fourth quarter valued at about $173,000. Institutional investors and hedge funds own 97.08% of the company's stock.

Prothena Price Performance

Shares of PRTA stock opened at $8.05 on Thursday. The stock's fifty day simple moving average is $6.37 and its 200 day simple moving average is $9.52. The firm has a market cap of $433.33 million, a price-to-earnings ratio of -1.43 and a beta of -0.03. Prothena has a one year low of $4.32 and a one year high of $22.83.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.75). The business had revenue of $4.42 million for the quarter, compared to the consensus estimate of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. On average, research analysts anticipate that Prothena will post -4.04 earnings per share for the current 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.

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