Prothena Corporation plc (NASDAQ:PRTA) Receives $21.67 Consensus Price Target from Analysts

Prothena Corporation plc (NASDAQ:PRTA) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $21.6667.

A number of equities research analysts have weighed in on PRTA shares. Stifel Nicolaus set a $19.00 price objective on Prothena in a report on Friday, March 13th. Royal Bank Of Canada increased their target price on Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Citigroup reissued a “market outperform” rating on shares of Prothena in a report on Friday, March 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Prothena in a research note on Monday, December 29th.

Institutional Investors Weigh In On Prothena

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC grew its stake in shares of Prothena by 5.5% during the 3rd quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 1,014 shares during the period. Brooklyn Investment Group lifted its stake in shares of Prothena by 13.1% in the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 1,456 shares during the period. Deutsche Bank AG lifted its stake in shares of Prothena by 5.1% in the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company’s stock valued at $339,000 after purchasing an additional 1,709 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Prothena by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,515 shares of the biotechnology company’s stock worth $779,000 after buying an additional 2,968 shares in the last quarter. Finally, Virtus Investment Advisers LLC boosted its holdings in Prothena by 14.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 25,679 shares of the biotechnology company’s stock worth $245,000 after buying an additional 3,236 shares in the last quarter. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

Prothena Stock Performance

PRTA stock opened at $10.75 on Tuesday. Prothena has a one year low of $4.32 and a one year high of $11.69. The stock has a market capitalization of $578.70 million, a PE ratio of -2.37, a price-to-earnings-growth ratio of 0.38 and a beta of -0.33. The company has a fifty day moving average of $9.64 and a 200-day moving average of $9.77.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.01. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.67 million. Prothena had a negative net margin of 2,520.57% and a negative return on equity of 65.89%. Equities analysts forecast that Prothena will post 0.69 earnings per share for the current fiscal year.

Prothena Company Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.