Prothena (NASDAQ:PRTA) Trading Up 4.8% - What's Next?

Prothena Co. plc (NASDAQ:PRTA - Get Free Report) shares rose 4.8% on Wednesday . The stock traded as high as $13.20 and last traded at $13.25. Approximately 491,749 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 483,168 shares. The stock had previously closed at $12.65.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Prothena from $24.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Prothena in a research report on Friday, February 21st. 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. HC Wainwright restated a "buy" rating and issued a $48.00 price target on shares of Prothena in a report on Friday, February 21st. Finally, StockNews.com upgraded Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Remove Ads

Prothena Stock Up 1.0 %

The business has a fifty day moving average of $14.32 and a 200 day moving average of $15.53. The firm has a market cap of $707.29 million, a P/E ratio of -5.71 and a beta of -0.02.

Prothena (NASDAQ:PRTA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Research analysts expect that Prothena Co. plc will post -4.04 EPS for the current year.

Institutional Investors Weigh In On Prothena

Institutional investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC increased its position in shares of Prothena by 19.3% in the fourth 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 period. Headlands Technologies LLC increased its stake in 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 acquiring an additional 4,858 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Prothena during the fourth quarter worth $145,000. Purkiss Capital Advisors LLC acquired a new position in shares of Prothena during the 4th quarter worth $149,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in Prothena in the fourth quarter valued at about $159,000. 97.08% of the stock is currently owned by institutional investors.

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.