Prothena Corporation PLC (PRTA) Receives Outperform Rating from Wedbush
PRTA has been the subject of several other research reports. Zacks Investment Research upgraded shares of Prothena Corporation PLC from a hold rating to a buy rating and set a $63.00 price objective for the company in a research report on Wednesday, December 7th. Deutsche Bank AG started coverage on shares of Prothena Corporation PLC in a research note on Thursday, November 3rd. They set a buy rating and a $73.00 price objective for the company. Finally, SunTrust Banks, Inc. started coverage on shares of Prothena Corporation PLC in a research note on Tuesday, December 20th. They set a buy rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $73.38.
Prothena Corporation PLC (NASDAQ:PRTA) traded up 2.23% during midday trading on Wednesday, reaching $54.05. 278,013 shares of the company’s stock traded hands. The stock’s market capitalization is $1.87 billion. The company’s 50-day moving average price is $50.49 and its 200 day moving average price is $54.43. Prothena Corporation PLC has a 52 week low of $28.29 and a 52 week high of $68.18.
Prothena Corporation PLC (NASDAQ:PRTA) last posted its quarterly earnings data on Tuesday, February 14th. The company reported ($1.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by $0.29. Prothena Corporation PLC had a negative net margin of 11,365.41% and a negative return on equity of 32.65%. The business had revenue of $0.20 million for the quarter, compared to the consensus estimate of $5.35 million. During the same quarter last year, the business posted ($0.76) EPS. The business’s revenue for the quarter was down 35.5% on a year-over-year basis. On average, equities research analysts expect that Prothena Corporation PLC will post ($4.67) earnings per share for the current year.
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In other news, insider Arthur W. Homan sold 3,125 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $52.25, for a total value of $163,281.25. Following the completion of the sale, the insider now directly owns 413 shares of the company’s stock, valued at $21,579.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis J. Selkoe sold 5,000 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $62.42, for a total transaction of $312,100.00. Following the completion of the sale, the director now directly owns 7,845 shares of the company’s stock, valued at $489,684.90. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC purchased a new position in Prothena Corporation PLC during the second quarter worth approximately $17,040,000. Loomis Sayles & Co. L P purchased a new position in Prothena Corporation PLC during the fourth quarter worth approximately $9,640,000. Columbus Circle Investors purchased a new position in Prothena Corporation PLC during the third quarter worth approximately $7,864,000. Hood River Capital Management LLC purchased a new position in Prothena Corporation PLC during the third quarter worth approximately $7,292,000. Finally, Palo Alto Investors LLC increased its position in Prothena Corporation PLC by 13.4% in the second quarter. Palo Alto Investors LLC now owns 788,618 shares of the company’s stock worth $27,570,000 after buying an additional 93,100 shares in the last quarter.
About Prothena Corporation PLC
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis (PRX003).
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