Prothena (NASDAQ:PRTA) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Prothena (NASDAQ:PRTA) had its target price raised by analysts at Citizens Jmp from $19.00 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s price target points to a potential upside of 84.57% from the stock’s current price.

Several other equities research analysts have also weighed in on PRTA. Royal Bank Of Canada lifted their price objective on Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Stifel Nicolaus set a $19.00 price objective on shares of Prothena in a report on Friday, March 13th. Weiss Ratings lowered shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, April 27th. Finally, Citigroup reiterated an “outperform” rating on shares of Prothena in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.78.

Prothena Stock Up 3.0%

Prothena stock traded up $0.32 during trading on Friday, hitting $10.84. The stock had a trading volume of 286,145 shares, compared to its average volume of 485,095. The stock’s 50 day moving average is $9.92 and its two-hundred day moving average is $9.81. Prothena has a 1 year low of $4.32 and a 1 year high of $11.80. The stock has a market cap of $583.30 million, a price-to-earnings ratio of -2.39, a price-to-earnings-growth ratio of 0.39 and a beta of -0.23.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Prothena by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 782,603 shares of the biotechnology company’s stock valued at $7,606,000 after purchasing an additional 7,396 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Prothena by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 136,322 shares of the biotechnology company’s stock worth $1,325,000 after buying an additional 3,622 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Prothena by 134.6% in the first quarter. Hsbc Holdings PLC now owns 65,070 shares of the biotechnology company’s stock worth $632,000 after buying an additional 37,337 shares in the last quarter. CHICAGO TRUST Co NA bought a new stake in Prothena during the first quarter valued at $146,000. Finally, Penbrook Management LLC bought a new stake in Prothena during the first quarter valued at $2,641,000. 97.08% of the stock is owned by institutional investors.

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.