Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $55.00

Prothena Co. plc (NASDAQ:PRTA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $55.00.

A number of brokerages recently issued reports on PRTA. Piper Sandler raised their price objective on shares of Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Prothena in a report on Friday, February 21st. Bank of America dropped their price objective on shares of Prothena from $26.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Royal Bank of Canada dropped their price objective on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Finally, HC Wainwright restated a "buy" rating and set a $48.00 price target on shares of Prothena in a report on Friday, February 21st.

Prothena Stock Performance

Shares of PRTA traded down $0.01 during mid-day trading on Monday, reaching $12.87. The company had a trading volume of 399,024 shares, compared to its average volume of 484,038. The company's 50 day simple moving average is $14.35 and its 200 day simple moving average is $15.96. Prothena has a 1-year low of $11.70 and a 1-year high of $26.45. The company has a market capitalization of $692.75 million, a price-to-earnings ratio of -5.60 and a beta of -0.02.

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Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.06). The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. As a group, equities analysts forecast that Prothena will post -4.04 earnings per share for the current fiscal year.

Institutional Trading of Prothena

Hedge funds have recently bought and sold shares of the business. Virtus ETF Advisers LLC grew its position in Prothena by 19.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 833 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 purchasing an additional 4,858 shares during the period. Teacher Retirement System of Texas acquired a new stake in Prothena in the 4th quarter valued at $145,000. Purkiss Capital Advisors LLC acquired a new stake in Prothena in the 4th quarter valued at $149,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Prothena during the 4th quarter worth $159,000. Institutional investors and hedge funds 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.