Prothena Corporation PLC (PRTA) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Prothena Corporation PLC (NASDAQ:PRTA) in a research note issued to investors on Monday. They currently have a $100.00 price objective on the biotechnology company’s stock.
Several other research analysts have also recently issued reports on the company. Evercore ISI began coverage on Prothena Corporation PLC in a research note on Wednesday, August 16th. They issued an outperform rating and a $83.00 price objective for the company. BTIG Research reduced their price objective on Prothena Corporation PLC from $80.00 to $77.00 and set a buy rating for the company in a research note on Friday, September 29th. SunTrust Banks, Inc. restated a buy rating and issued a $75.00 price objective on shares of Prothena Corporation PLC in a research note on Monday. Royal Bank Of Canada restated a buy rating on shares of Prothena Corporation PLC in a research note on Friday, September 29th. Finally, Cantor Fitzgerald restated a buy rating and issued a $79.00 price objective on shares of Prothena Corporation PLC in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $78.58.
Prothena Corporation PLC (PRTA) opened at 62.60 on Monday. The firm has a 50-day moving average price of $61.51 and a 200-day moving average price of $57.20. The stock’s market cap is $2.40 billion. Prothena Corporation PLC has a 12 month low of $40.58 and a 12 month high of $70.00.
Prothena Corporation PLC (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.43. Prothena Corporation PLC had a negative return on equity of 33.20% and a negative net margin of 527.56%. The company had revenue of $26.81 million during the quarter, compared to analysts’ expectations of $16.08 million. During the same period last year, the business posted ($1.18) earnings per share. The firm’s revenue was up 7951.1% compared to the same quarter last year. Equities research analysts expect that Prothena Corporation PLC will post ($4.41) earnings per share for the current fiscal year.
In related news, Director Christopher S. Henney sold 900 shares of Prothena Corporation PLC stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $70.00, for a total transaction of $63,000.00. Following the completion of the transaction, the director now directly owns 900 shares in the company, valued at $63,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Karin L. Walker sold 5,000 shares of Prothena Corporation PLC stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $64.89, for a total value of $324,450.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $324,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,424 shares of company stock valued at $2,247,237. 3.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Sphera Funds Management LTD. purchased a new position in Prothena Corporation PLC during the second quarter valued at approximately $2,165,000. Victory Capital Management Inc. purchased a new position in Prothena Corporation PLC during the first quarter valued at approximately $588,000. Bank of New York Mellon Corp raised its position in Prothena Corporation PLC by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 185,462 shares of the biotechnology company’s stock valued at $10,037,000 after acquiring an additional 13,492 shares in the last quarter. BlackRock Inc. raised its position in Prothena Corporation PLC by 95,458.7% during the first quarter. BlackRock Inc. now owns 2,733,934 shares of the biotechnology company’s stock valued at $152,526,000 after acquiring an additional 2,731,073 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Prothena Corporation PLC by 6.8% during the second quarter. Alliancebernstein L.P. now owns 895,759 shares of the biotechnology company’s stock valued at $48,478,000 after acquiring an additional 57,002 shares in the last quarter.
Prothena Corporation PLC Company Profile
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 and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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