Prothena (NASDAQ:PRTA) Reaches New 1-Year Low - What's Next?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $13.17 and last traded at $13.22, with a volume of 270041 shares. The stock had previously closed at $13.81.

Analysts Set New Price Targets

A number of brokerages recently commented on PRTA. Cantor Fitzgerald restated an "overweight" rating on shares of Prothena in a research note on Monday, September 30th. Bank of America dropped their target price on Prothena from $33.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. StockNews.com cut Prothena from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Finally, HC Wainwright reissued a "buy" rating and set a $84.00 price objective on shares of Prothena in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Prothena currently has an average rating of "Hold" and a consensus target price of $61.83.

Prothena Stock Down 7.4 %

The firm has a market capitalization of $688.23 million, a P/E ratio of -5.16 and a beta of 0.09. The business's 50-day simple moving average is $15.97 and its 200 day simple moving average is $19.32.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The company's quarterly revenue was down 98.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. Sell-side analysts predict that Prothena Co. plc will post -2.24 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently bought and sold shares of PRTA. Armistice Capital LLC boosted its stake in shares of Prothena by 42.3% during the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company's stock valued at $32,198,000 after purchasing an additional 464,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Prothena by 226.4% in the 2nd quarter. SG Americas Securities LLC now owns 54,572 shares of the biotechnology company's stock valued at $1,126,000 after purchasing an additional 37,852 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Prothena by 1,122.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company's stock worth $8,812,000 after purchasing an additional 483,673 shares during the period. Federated Hermes Inc. bought a new position in Prothena in the second quarter worth $905,000. Finally, Duncan Williams Asset Management LLC purchased a new position in Prothena during the third quarter valued at $816,000. 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.