Prothena Corporation PLC (PRTA) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Prothena Corporation PLC (NASDAQ:PRTA) in a report published on Monday morning. They currently have a $100.00 price objective on the biotechnology company’s stock.
PRTA has been the topic of several other reports. ValuEngine raised shares of Prothena Corporation PLC from a sell rating to a hold rating in a research report on Thursday, June 15th. Royal Bank Of Canada assumed coverage on shares of Prothena Corporation PLC in a research report on Thursday, September 14th. They issued an outperform rating and a $87.00 target price on the stock. BidaskClub cut shares of Prothena Corporation PLC from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Cantor Fitzgerald reissued a buy rating and issued a $79.00 target price on shares of Prothena Corporation PLC in a research report on Thursday, September 28th. Finally, BTIG Research decreased their target price on shares of Prothena Corporation PLC from $80.00 to $77.00 and set a buy rating on the stock in a research report on Friday, September 29th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $78.58.
Shares of Prothena Corporation PLC (NASDAQ:PRTA) opened at 63.73 on Monday. The stock’s market capitalization is $2.44 billion. The stock has a 50 day moving average of $61.37 and a 200-day moving average of $57.16. Prothena Corporation PLC has a 1-year low of $40.58 and a 1-year high of $70.00.
Prothena Corporation PLC (NASDAQ:PRTA) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.43. Prothena Corporation PLC had a negative net margin of 527.56% and a negative return on equity of 33.20%. The business had revenue of $26.81 million for the quarter, compared to analysts’ expectations of $16.08 million. During the same period last year, the company earned ($1.18) earnings per share. The company’s quarterly revenue was up 7951.1% on a year-over-year basis. Equities research analysts predict that Prothena Corporation PLC will post ($4.41) earnings per share for the current fiscal year.
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In related news, insider Tara Nickerson sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $63.60, for a total value of $1,113,000.00. Following the transaction, the insider now owns 19,500 shares in the company, valued at $1,240,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis J. Selkoe sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.17, for a total transaction of $224,595.00. The disclosure for this sale can be found here. Insiders sold 37,924 shares of company stock worth $2,450,622 in the last 90 days. 3.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in Prothena Corporation PLC by 6.7% in the second quarter. Bank of Montreal Can now owns 1,858 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 117 shares during the period. Quantbot Technologies LP raised its holdings in Prothena Corporation PLC by 672.7% in the second quarter. Quantbot Technologies LP now owns 1,870 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,628 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prothena Corporation PLC by 187.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,375 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 1,549 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Prothena Corporation PLC in the first quarter valued at approximately $167,000. Finally, Sei Investments Co. purchased a new position in Prothena Corporation PLC in the second quarter valued at approximately $176,000.
Prothena Corporation PLC 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 and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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