Prothena Co. plc (NASDAQ:PRTA) Given Average Rating of "Moderate Buy" by Analysts

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $61.86.

A number of analysts have recently weighed in on PRTA shares. Oppenheimer dropped their target price on shares of Prothena from $66.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday, August 14th. Bank of America dropped their price objective on Prothena from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research note on Monday, September 30th. StockNews.com lowered Prothena from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Finally, HC Wainwright reissued a "buy" rating and set a $84.00 price objective on shares of Prothena in a research report on Wednesday, November 13th.

Prothena Trading Up 0.9 %

Prothena stock traded up $0.12 during trading on Friday, hitting $14.05. 259,188 shares of the company were exchanged, compared to its average volume of 450,329. Prothena has a 52 week low of $13.22 and a 52 week high of $41.54. The business's 50 day moving average is $16.25 and its 200 day moving average is $19.54. The company has a market capitalization of $756.02 million, a P/E ratio of -5.67 and a beta of 0.09.

Prothena (NASDAQ:PRTA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.08. The company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm's revenue for the quarter was down 98.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. Equities analysts expect that Prothena will post -2.24 EPS for the current year.

Hedge Funds Weigh In On Prothena

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Signaturefd LLC increased its stake in shares of Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prothena by 13.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company's stock valued at $211,000 after purchasing an additional 1,186 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company's stock valued at $173,000 after purchasing an additional 4,026 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Prothena in the 3rd quarter worth approximately $210,000. Finally, XTX Topco Ltd purchased a new stake in shares of Prothena in the 3rd quarter worth approximately $260,000. Hedge funds and other institutional investors own 97.08% of the company's stock.

About Prothena

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.