Analysts Set Prothena Corporation plc (NASDAQ:PRTA) Price Target at $25.60

Prothena Corporation plc (NASDAQ:PRTA) has received an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $25.60.

Several research firms have recently weighed in on PRTA. UBS Group set a $36.00 price objective on shares of Prothena in a research note on Tuesday, October 28th. Citigroup reaffirmed a “market outperform” rating on shares of Prothena in a report on Monday, December 1st. Wall Street Zen raised shares of Prothena from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a research note on Monday, December 29th. Finally, Citizens Jmp raised their target price on Prothena from $11.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Monday, December 1st.

Hedge Funds Weigh In On Prothena

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTA. Intech Investment Management LLC boosted its stake in Prothena by 5.5% in the third quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock worth $189,000 after buying an additional 1,014 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Prothena by 13.1% in the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 1,456 shares during the period. Purkiss Capital Advisors LLC lifted its stake in shares of Prothena by 15.1% in the 2nd quarter. Purkiss Capital Advisors LLC now owns 24,904 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 3,275 shares during the period. Nordea Investment Management AB grew its position in shares of Prothena by 1.2% in the 2nd quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock worth $1,916,000 after buying an additional 3,618 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Prothena by 9.2% during the third quarter. SG Americas Securities LLC now owns 56,719 shares of the biotechnology company’s stock valued at $554,000 after purchasing an additional 4,778 shares during the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Stock Up 1.0%

Shares of PRTA traded up $0.09 during midday trading on Friday, hitting $9.35. The company’s stock had a trading volume of 761,476 shares, compared to its average volume of 626,151. Prothena has a one year low of $4.32 and a one year high of $16.67. The stock has a market capitalization of $503.31 million, a price-to-earnings ratio of -1.79, a price-to-earnings-growth ratio of 1.98 and a beta of -0.09. The company’s fifty day simple moving average is $9.91 and its two-hundred day simple moving average is $8.96.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). The firm had revenue of $2.42 million during the quarter, compared to the consensus estimate of $6.64 million. Prothena had a negative net margin of 2,379.59% and a negative return on equity of 65.89%. On average, research analysts predict that Prothena will post -4.04 earnings per share for the current year.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.