Prothena (NASDAQ:PRTA) Shares Up 7.7% - Still a Buy?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report) shares shot up 7.7% during trading on Monday . The company traded as high as $9.97 and last traded at $9.91. 124,881 shares traded hands during trading, a decline of 75% from the average session volume of 493,136 shares. The stock had previously closed at $9.20.

Analysts Set New Price Targets

Several analysts have recently weighed in on PRTA shares. StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Oppenheimer upped their price target on Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Piper Sandler raised their price objective on shares of Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Chardan Capital reissued a "buy" rating and issued a $40.00 target price on shares of Prothena in a report on Friday, February 21st. Finally, HC Wainwright reissued a "buy" rating and set a $48.00 price objective on shares of Prothena in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Prothena has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Prothena Trading Up 3.0 %

The company has a market cap of $531.54 million, a price-to-earnings ratio of -4.25 and a beta of 0.07. The stock has a 50 day moving average price of $12.62 and a two-hundred day moving average price of $14.29.

Prothena (NASDAQ:PRTA - Get Free Report) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) 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 the consensus estimate of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. On average, equities analysts forecast that Prothena Co. plc will post -4.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC lifted its holdings in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 833 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Prothena by 4,626.0% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock worth $74,000 after purchasing an additional 5,875 shares during the period. Headlands Technologies LLC boosted its stake in shares of Prothena by 196.5% in the fourth 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 during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Prothena during the first quarter worth approximately $126,000. Finally, Teacher Retirement System of Texas bought a new position in Prothena during the 4th quarter worth $145,000. 97.08% of the stock is owned by 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.