Prothena Co. plc (NASDAQ:PRTA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.00.

Several equities analysts have recently commented on the company. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Piper Sandler lifted their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of Prothena in a report on Friday, February 21st. Finally, Oppenheimer upped their price target on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th.

Prothena Trading Down 4.9 %

Prothena stock opened at $8.08 on Tuesday. Prothena has a 12-month low of $8.00 and a 12-month high of $25.42. The firm has a market capitalization of $434.92 million, a price-to-earnings ratio of -3.51 and a beta of 0.07. The firm has a 50 day moving average of $11.72 and a 200 day moving average of $13.82.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The firm had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $7.53 million. On average, analysts predict that Prothena will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Institutional investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC lifted its stake in Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 833 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 5,875 shares during the period. Headlands Technologies LLC grew its position in Prothena by 196.5% in the 4th 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 last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Prothena in the first quarter worth $126,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Prothena during the fourth quarter worth $145,000. 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.