Prothena (NASDAQ:PRTA) Stock Price Up 7.4%

Prothena Co. plc (NASDAQ:PRTA - Get Free Report)'s stock price rose 7.4% during mid-day trading on Friday . The stock traded as high as $22.33 and last traded at $22.26. Approximately 138,425 shares were traded during trading, a decline of 76% from the average daily volume of 584,888 shares. The stock had previously closed at $20.72.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRTA. Oppenheimer decreased their target price on Prothena from $66.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada decreased their target price on Prothena from $28.00 to $24.00 and set a "sector perform" rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research report on Monday, August 12th. Finally, StockNews.com raised Prothena from a "sell" rating to a "hold" rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Prothena presently has an average rating of "Moderate Buy" and a consensus price target of $62.86.

Prothena Stock Performance

The business has a 50-day simple moving average of $21.71 and a two-hundred day simple moving average of $22.55. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -6.77 and a beta of 0.18.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 EPS for the quarter, beating the consensus estimate of ($1.01) by $2.23. The business had revenue of $132.01 million during the quarter, compared to analysts' expectations of $10.73 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The company's quarterly revenue was up 3184.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.03) EPS. Research analysts predict that Prothena Co. plc will post -2.31 EPS for the current fiscal year.

Institutional Trading of Prothena

Several hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Prothena by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company's stock valued at $153,986,000 after buying an additional 417,338 shares during the period. Wellington Management Group LLP raised its holdings in Prothena by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company's stock worth $94,270,000 after purchasing an additional 452,455 shares during the last quarter. Armistice Capital LLC raised its holdings in Prothena by 42.3% during the second quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company's stock worth $32,198,000 after purchasing an additional 464,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in Prothena by 5.1% during the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company's stock worth $27,873,000 after purchasing an additional 54,728 shares during the last quarter. Finally, Artal Group S.A. raised its holdings in Prothena by 99.7% during the first quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company's stock worth $24,804,000 after purchasing an additional 500,000 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.

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