Prothena Corporation plc (NASDAQ:PRTA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Prothena Corporation plc (NASDAQ:PRTA) have been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.5714.

PRTA has been the topic of a number of recent research reports. Citizens Jmp raised their price target on shares of Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Citigroup reaffirmed an “outperform” rating on shares of Prothena in a research report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Prothena in a research note on Friday, July 24th. UBS Group reissued a “buy” rating on shares of Prothena in a report on Friday, July 24th. Finally, Wall Street Zen downgraded Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th.

Insider Transactions at Prothena

In related news, General Counsel Michael John Isaacs sold 8,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total value of $71,029.42. Following the sale, the general counsel owned 35,745 shares of the company’s stock, valued at approximately $302,760.15. This trade represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anne Evans Kingston sold 7,662 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $8.47, for a total value of $64,897.14. Following the transaction, the insider owned 55,782 shares of the company’s stock, valued at $472,473.54. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 295,000 shares of company stock worth $2,555,750. 10.40% of the stock is currently owned by company insiders.

Institutional Trading of Prothena

Several hedge funds have recently bought and sold shares of PRTA. Tower Research Capital LLC TRC grew its position in Prothena by 571.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 10,815 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Prothena during the fourth quarter worth approximately $100,000. PDT Partners LLC acquired a new position in shares of Prothena during the fourth quarter worth approximately $108,000. Voleon Capital Management LP bought a new position in Prothena in the 2nd quarter worth approximately $113,000. Finally, DRW Securities LLC acquired a new stake in Prothena in the 4th quarter valued at approximately $114,000. 97.08% of the stock is currently owned by institutional investors.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $9.33 on Monday. The company has a market capitalization of $488.45 million, a price-to-earnings ratio of -11.11, a price-to-earnings-growth ratio of 3.29 and a beta of -0.30. Prothena has a twelve month low of $7.73 and a twelve month high of $11.80. The business has a 50 day simple moving average of $9.05 and a 200-day simple moving average of $9.39.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%.The firm had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $0.42 million. As a group, equities analysts predict that Prothena will post 0.08 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.