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

Prothena Co. plc (NASDAQ:PRTA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.00 and last traded at $10.37, with a volume of 76017 shares changing hands. The stock had previously closed at $10.86.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research note on Friday, February 21st. Piper Sandler increased their target price on Prothena from $94.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Oppenheimer raised their target price on shares of Prothena from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, Chardan Capital reiterated a "buy" rating and set a $40.00 price target on shares of Prothena in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Prothena has an average rating of "Moderate Buy" and an average price target of $55.00.

Prothena Trading Up 5.5 %

The business's 50 day moving average price is $13.37 and its two-hundred day moving average price is $14.72. The stock has a market cap of $550.11 million, a P/E ratio of -4.44 and a beta of 0.07.

Prothena (NASDAQ:PRTA - Get Free Report) last posted 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). The firm had revenue of $2.12 million for the quarter, compared to analysts' expectations of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. As a group, analysts expect that Prothena Co. plc will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently bought and sold shares of PRTA. Barclays PLC lifted its holdings in shares of Prothena by 110.2% during the third quarter. Barclays PLC now owns 95,222 shares of the biotechnology company's stock valued at $1,592,000 after purchasing an additional 49,916 shares during the last quarter. SG Americas Securities LLC raised its stake in Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company's stock valued at $521,000 after buying an additional 23,525 shares during the last quarter. Duncan Williams Asset Management LLC boosted its holdings in Prothena by 41.9% in the fourth quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company's stock worth $958,000 after acquiring an additional 20,450 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Prothena by 1.8% in the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company's stock worth $930,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of Prothena during the fourth quarter valued at $445,000. Institutional investors 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.