Prothena Corporation plc (NASDAQ:PRTA) Receives $25.78 Average Target Price from Brokerages

Shares of Prothena Corporation plc (NASDAQ:PRTA) have been given a consensus recommendation of “Hold” by the ten analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.7778.

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prothena in a report on Monday. Royal Bank Of Canada raised their price objective on Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Chardan Capital raised Prothena to a “strong-buy” rating in a research report on Wednesday, November 19th. UBS Group set a $36.00 price target on Prothena in a report on Tuesday, October 28th. Finally, Piper Sandler increased their target price on shares of Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th.

Prothena Price Performance

NASDAQ PRTA opened at $10.43 on Friday. The stock has a market capitalization of $561.45 million, a PE ratio of -1.85 and a beta of -0.09. Prothena has a 1-year low of $4.32 and a 1-year high of $17.66. The business has a 50 day simple moving average of $10.02 and a two-hundred day simple moving average of $7.96.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.07). The business had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $6.64 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. On average, analysts anticipate that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Trading of Prothena

Several institutional investors have recently added to or reduced their stakes in PRTA. Siren L.L.C. grew its holdings in shares of Prothena by 16.7% in the first 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 during the last quarter. Purkiss Capital Advisors LLC boosted its position in 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 buying an additional 3,275 shares during the period. Prospera Financial Services Inc bought a new position in Prothena in the 2nd quarter worth about $61,000. Public Employees Retirement System of Ohio purchased a new position in shares of Prothena during the second quarter worth approximately $256,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Prothena during the second quarter valued at approximately $6,176,000. Institutional investors own 97.08% of the company’s stock.

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.