Prothena Corporation plc (NASDAQ:PRTA) Stock Has Consensus Price Target of $20.00 According to Brokerages

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.00.

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Prothena in a report on Friday, July 24th. Wall Street Zen lowered Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, UBS Group reissued a “buy” rating on shares of Prothena in a research note on Friday, July 24th.

Insider Buying and Selling

In other Prothena news, major shareholder William P. Scully bought 162,000 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was acquired at an average cost of $8.68 per share, for a total transaction of $1,406,160.00. Following the completion of the transaction, the insider owned 214,000 shares in the company, valued at $1,857,520. This trade represents a 311.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 1,017,500 shares of company stock worth $8,654,850 over the last ninety days. 10.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Prothena during the 3rd quarter valued at $239,000. Chicago Partners Investment Group LLC increased its position in shares of Prothena by 59.8% during the third quarter. Chicago Partners Investment Group LLC now owns 25,779 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 9,650 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Prothena by 6.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 61,507 shares of the biotechnology company’s stock valued at $515,000 after purchasing an additional 3,589 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Prothena by 179.1% in the 3rd quarter. Versant Capital Management Inc now owns 5,704 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Prothena in the 2nd quarter worth $404,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Stock Up 10.0%

Shares of NASDAQ:PRTA opened at $8.77 on Friday. The stock has a market cap of $459.11 million, a PE ratio of -18.27, a PEG ratio of 2.96 and a beta of -0.20. The company’s fifty day moving average is $8.64 and its 200 day moving average is $9.19. Prothena has a 52 week low of $7.73 and a 52 week high of $11.80.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.09). The company had revenue of $0.62 million during the quarter, compared to the consensus estimate of $9.58 million. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. Sell-side analysts anticipate that Prothena will post 0.08 EPS for the current year.

About Prothena

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company’s product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson’s disease.