Prothena Corporation plc (NASDAQ:PRTA) Receives $22.00 Average Price Target from Brokerages

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.00.

Several brokerages have weighed in on PRTA. Deutsche Bank Aktiengesellschaft set a $19.00 price target on Prothena in a research report on Monday, December 1st. HC Wainwright raised their target price on Prothena from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Prothena in a research report on Monday, December 29th. Citizens Jmp set a $19.00 price objective on Prothena in a research report on Monday, December 1st. Finally, Chardan Capital raised shares of Prothena to a “strong-buy” rating in a research note on Wednesday, November 19th.

Institutional Investors Weigh In On Prothena

Hedge funds have recently modified their holdings of the company. Rubric Capital Management LP increased its stake in shares of Prothena by 138.7% in the 4th quarter. Rubric Capital Management LP now owns 3,677,331 shares of the biotechnology company’s stock valued at $35,119,000 after purchasing an additional 2,136,958 shares in the last quarter. State Street Corp grew its holdings in Prothena by 151.7% in the fourth quarter. State Street Corp now owns 2,267,802 shares of the biotechnology company’s stock valued at $21,658,000 after purchasing an additional 1,366,764 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Prothena in the second quarter valued at approximately $6,176,000. Rangeley Capital LLC acquired a new position in shares of Prothena during the 2nd quarter worth approximately $4,342,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Prothena during the 3rd quarter worth approximately $6,386,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

Prothena Trading Up 5.3%

Shares of NASDAQ PRTA opened at $9.86 on Monday. The company has a 50 day simple moving average of $9.18 and a two-hundred day simple moving average of $9.48. The stock has a market cap of $530.76 million, a price-to-earnings ratio of -2.17, a PEG ratio of 1.14 and a beta of -0.24. Prothena has a 12 month low of $4.32 and a 12 month high of $15.63.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, February 19th. The biotechnology company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.01. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.67 million. Prothena had a negative net margin of 2,520.57% and a negative return on equity of 65.89%. Analysts forecast that Prothena will post -4.04 EPS for the current 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.