Prothena Corp. (PRTA) Receives $76.17 Consensus Price Target from Brokerages
Prothena Corp. (NASDAQ:PRTA) has received an average recommendation of “Buy” from the seven analysts that are presently covering the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $76.17.
PRTA has been the subject of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Prothena Corp. in a research report on Thursday, November 10th. Zacks Investment Research cut Prothena Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Deutsche Bank AG initiated coverage on Prothena Corp. in a research report on Thursday, November 3rd. They set a “buy” rating and a $73.00 price objective for the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $65.00 price objective on shares of Prothena Corp. in a research report on Tuesday, September 27th. Finally, Barclays PLC increased their price objective on Prothena Corp. from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th.
In related news, insider Karin L. Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $54.23, for a total value of $271,150.00. Following the completion of the transaction, the insider now directly owns 3,000 shares of the company’s stock, valued at approximately $162,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arthur W. Homan sold 3,125 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $52.16, for a total value of $163,000.00. Following the completion of the transaction, the insider now directly owns 3,125 shares of the company’s stock, valued at $163,000. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PRTA. BlackRock Inc. increased its position in Prothena Corp. by 197.8% in the first quarter. BlackRock Inc. now owns 2,656 shares of the company’s stock valued at $110,000 after buying an additional 1,764 shares during the last quarter. Societe Generale purchased a new position in Prothena Corp. during the second quarter valued at $111,000. Strs Ohio purchased a new position in Prothena Corp. during the third quarter valued at $131,000. BNP Paribas Arbitrage SA increased its position in Prothena Corp. by 49.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,039 shares of the company’s stock valued at $141,000 after buying an additional 1,344 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Prothena Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,021 shares of the company’s stock valued at $141,000 after buying an additional 493 shares during the last quarter.
Shares of Prothena Corp. (NASDAQ:PRTA) opened at 64.56 on Wednesday. The firm’s market capitalization is $2.23 billion. The stock has a 50 day moving average price of $55.73 and a 200-day moving average price of $50.84. Prothena Corp. has a 52 week low of $28.20 and a 52 week high of $76.42.
Prothena Corp. (NASDAQ:PRTA) last announced its earnings results on Tuesday, November 1st. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by $0.04. The firm earned $0.29 million during the quarter, compared to analyst estimates of $0.49 million. Prothena Corp. had a negative net margin of 11,365.41% and a negative return on equity of 32.65%. On average, analysts anticipate that Prothena Corp. will post ($4.36) EPS for the current year.
Prothena Corp. Company Profile
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis (PRX003).
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