Brokerages Set Prothena Corporation plc (NASDAQ:PRTA) PT at $21.78

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $21.7778.

PRTA has been the subject of a number of research reports. Stifel Nicolaus set a $19.00 target price on Prothena in a report on Friday, March 13th. Citigroup reaffirmed an “outperform” rating on shares of Prothena in a report on Friday, May 8th. Citizens Jmp boosted their price target on Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Prothena from $11.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Finally, Weiss Ratings raised Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. ADAR1 Capital Management LLC lifted its holdings in Prothena by 8.5% in the first quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company’s stock valued at $15,372,000 after acquiring an additional 123,679 shares during the period. Rubric Capital Management LP lifted its holdings in Prothena by 36.0% in the first quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock valued at $48,600,000 after acquiring an additional 1,322,669 shares during the period. Quantinno Capital Management LP lifted its holdings in Prothena by 39.3% in the first quarter. Quantinno Capital Management LP now owns 144,299 shares of the biotechnology company’s stock valued at $1,403,000 after acquiring an additional 40,681 shares during the period. Renaissance Technologies LLC lifted its holdings in Prothena by 39.5% in the first quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock valued at $5,905,000 after acquiring an additional 172,000 shares during the period. Finally, Sei Investments Co. acquired a new position in Prothena in the first quarter valued at approximately $168,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Stock Up 3.1%

Prothena stock opened at $9.35 on Friday. Prothena has a 52 week low of $4.32 and a 52 week high of $11.80. The company has a market capitalization of $489.47 million, a price-to-earnings ratio of -3.32, a price-to-earnings-growth ratio of 1.45 and a beta of -0.23. The stock has a 50-day moving average price of $9.99 and a 200 day moving average price of $9.77.

Prothena (NASDAQ:PRTA) last released its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.91. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%.The firm had revenue of $51.08 million during the quarter, compared to the consensus estimate of $0.81 million. Research analysts anticipate that Prothena will post 0.18 EPS for the current fiscal year.

Prothena Company Profile

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.