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

Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) has been assigned an average rating of "Hold" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.75.

Several research analysts have recently issued reports on PRTA shares. Piper Sandler cut their target price on shares of Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, August 28th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Prothena in a report on Tuesday, August 5th. JMP Securities decreased their price objective on shares of Prothena from $29.00 to $11.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 2nd. Chardan Capital reiterated a "buy" rating and set a $18.00 target price on shares of Prothena in a report on Thursday, August 28th. Finally, Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research note on Friday, June 20th.

Prothena Price Performance

NASDAQ PRTA traded down $0.22 during trading on Monday, hitting $8.21. 551,060 shares of the company's stock traded hands, compared to its average volume of 944,344. The stock has a fifty day moving average of $7.53 and a two-hundred day moving average of $8.57. Prothena has a 12-month low of $4.32 and a 12-month high of $22.71. The firm has a market cap of $441.94 million, a P/E ratio of -1.46 and a beta of -0.04.

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

Institutional Investors Weigh In On Prothena

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Prothena by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company's stock valued at $64,344,000 after acquiring an additional 68,652 shares in the last quarter. Armistice Capital LLC increased its position in Prothena by 1.8% during the 2nd quarter. Armistice Capital LLC now owns 2,236,000 shares of the biotechnology company's stock valued at $13,573,000 after purchasing an additional 40,000 shares during the period. Siren L.L.C. raised its holdings in Prothena by 16.7% in the 1st quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company's stock worth $15,884,000 after purchasing an additional 183,715 shares in the last quarter. Federated Hermes Inc. raised its holdings in Prothena by 116.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,181,087 shares of the biotechnology company's stock worth $7,169,000 after purchasing an additional 634,832 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Prothena in the 2nd quarter worth about $6,176,000. 97.08% of the stock is currently owned by institutional investors.

Prothena Company Profile

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.