Prothena Co. plc (NASDAQ:PRTA) Receives $61.86 Average Target Price from Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $61.86.

PRTA has been the subject of several research reports. Royal Bank of Canada cut their price target on Prothena from $28.00 to $24.00 and set a "sector perform" rating for the company in a research note on Friday, August 9th. StockNews.com raised Prothena from a "sell" rating to a "hold" rating in a report on Monday, August 12th. Bank of America cut their price objective on Prothena from $33.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Oppenheimer dropped their price target on shares of Prothena from $66.00 to $62.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research report on Monday, September 30th.

Institutional Trading of Prothena

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company's stock valued at $28,000 after buying an additional 863 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Prothena during the 1st quarter worth approximately $96,000. China Universal Asset Management Co. Ltd. grew its position in 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 buying an additional 4,026 shares during the period. Intech Investment Management LLC purchased a new position in Prothena during the third quarter worth approximately $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 worth $211,000 after acquiring an additional 1,186 shares during the period. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Trading Down 4.1 %

NASDAQ:PRTA traded down $0.74 during midday trading on Tuesday, hitting $17.34. 194,996 shares of the company were exchanged, compared to its average volume of 582,274. The company has a market capitalization of $932.55 million, a PE ratio of -18.08 and a beta of 0.16. The company has a fifty day simple moving average of $18.56 and a 200 day simple moving average of $20.46. Prothena has a fifty-two week low of $15.30 and a fifty-two week high of $41.54.

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.