Prothena Co. plc (NASDAQ:PRTA) Receives Average Rating of “Moderate Buy” from Analysts

Prothena Co. plc (NASDAQ:PRTA) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $55.00.

Several research analysts recently commented on the stock. Chardan Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Prothena in a report on Friday, February 21st. Bank of America cut their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of Prothena in a report on Friday, February 21st. Finally, Piper Sandler raised their price objective on shares of Prothena from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $13.74 on Monday. The business’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $16.10. Prothena has a 52 week low of $11.70 and a 52 week high of $26.75. The firm has a market cap of $739.58 million, a price-to-earnings ratio of -5.97 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.06). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The company had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. As a group, equities research analysts forecast that Prothena will post -4.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus ETF Advisers LLC increased its holdings in Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 833 shares during the period. Headlands Technologies LLC increased its stake in Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 4,858 shares during the period. Teacher Retirement System of Texas bought a new stake in Prothena in the fourth quarter valued at about $145,000. Purkiss Capital Advisors LLC acquired a new position in Prothena in the fourth quarter worth about $149,000. Finally, Chicago Partners Investment Group LLC bought a new position in Prothena during the fourth quarter worth about $159,000. 97.08% of the stock is owned by institutional investors.

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.