Prothena Co. plc (NASDAQ:PRTA) Receives $46.50 Consensus Target Price from Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.83.

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Friday. HC Wainwright restated a "buy" rating and set a $48.00 target price on shares of Prothena in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Prothena in a research note on Friday. Finally, Chardan Capital reiterated a "buy" rating and issued a $40.00 price target on shares of Prothena in a research note on Friday.

Prothena Stock Performance

Shares of Prothena stock traded up $0.31 on Thursday, hitting $15.56. 732,645 shares of the company's stock were exchanged, compared to its average volume of 299,628. Prothena has a 1 year low of $11.70 and a 1 year high of $31.03. The company has a 50-day simple moving average of $14.33 and a 200-day simple moving average of $16.77. The stock has a market capitalization of $837.27 million, a PE ratio of -6.77 and a beta of 0.08.

Prothena (NASDAQ:PRTA - Get Free Report) last released its 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). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The firm had revenue of $2.12 million for the quarter, compared to analysts' expectations of $7.53 million. On average, analysts expect that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Trading of Prothena

Several hedge funds have recently made changes to their positions in PRTA. Virtus ETF Advisers LLC raised its position in shares of Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after buying an additional 833 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Prothena by 196.5% during the 4th quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock valued at $102,000 after buying an additional 4,858 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Prothena during the 4th quarter valued at about $145,000. Purkiss Capital Advisors LLC purchased a new stake in shares of Prothena during the 4th quarter valued at about $149,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Prothena by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,409 shares of the biotechnology company's stock valued at $158,000 after buying an additional 1,065 shares in the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

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.