Prothena (NASDAQ:PRTA) Receives New Coverage from Analysts at Fox-Davies Capital

Fox-Davies Capital started coverage on shares of Prothena (NASDAQ:PRTA) in a research report sent to investors on Monday, The Fly reports. The brokerage issued an overweight rating and a $14.00 price objective on the biotechnology company’s stock.

A number of other research firms also recently issued reports on PRTA. HC Wainwright boosted their price objective on shares of Prothena from $58.00 to $75.00 and gave the company a buy rating in a report on Tuesday, July 13th. Royal Bank of Canada boosted their price objective on shares of Prothena from $50.00 to $59.00 and gave the company an outperform rating in a report on Monday, July 19th. Citigroup boosted their price objective on shares of Prothena from $57.00 to $72.00 and gave the company a buy rating in a report on Tuesday, July 13th. Zacks Investment Research downgraded shares of Prothena from a buy rating to a hold rating and set a $71.00 price objective for the company. in a report on Monday, August 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of Prothena from $70.00 to $103.00 and gave the company an overweight rating in a report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $61.36.

Shares of PRTA stock opened at $74.81 on Monday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -40.01, a PEG ratio of 22.64 and a beta of 1.50. The company has a 50-day simple moving average of $61.27 and a 200 day simple moving average of $42.12. Prothena has a 52 week low of $9.67 and a 52 week high of $78.40.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, August 5th. The biotechnology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Prothena had a negative net margin of 115.87% and a negative return on equity of 30.73%. As a group, equities research analysts anticipate that Prothena will post 1.45 earnings per share for the current fiscal year.

In related news, Director Christopher S. Henney sold 23,892 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $55.51, for a total transaction of $1,326,244.92. Following the completion of the transaction, the director now directly owns 17,500 shares in the company, valued at approximately $971,425. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher S. Henney sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $47.73, for a total transaction of $572,760.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $572,760. The disclosure for this sale can be found here. Insiders sold a total of 52,000 shares of company stock valued at $2,762,405 over the last 90 days. Corporate insiders own 30.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. E Fund Management Co. Ltd. acquired a new position in Prothena in the 1st quarter valued at approximately $43,000. Nisa Investment Advisors LLC increased its position in Prothena by 106.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,030 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 530 shares during the period. Parallel Advisors LLC boosted its stake in shares of Prothena by 60.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,595 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 600 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Prothena in the 2nd quarter valued at $82,000. Finally, Royal Bank of Canada boosted its stake in shares of Prothena by 171.0% in the 1st quarter. Royal Bank of Canada now owns 6,860 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 4,329 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Prothena Company Profile

Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm’s clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases.

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