ValuEngine Lowers Prothena Corporation PLC (PRTA) to Sell
Prothena Corporation PLC (NASDAQ:PRTA) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.
Other research analysts have also issued reports about the company. Evercore ISI assumed coverage on Prothena Corporation PLC in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $83.00 price objective on the stock. Jefferies Group LLC assumed coverage on Prothena Corporation PLC in a research report on Monday, July 10th. They issued a “buy” rating and a $100.00 price objective on the stock. BTIG Research cut their price objective on 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. SunTrust Banks, Inc. reissued a “buy” rating and issued a $75.00 price objective on shares of Prothena Corporation PLC in a research report on Monday. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Prothena Corporation PLC in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. Prothena Corporation PLC currently has a consensus rating of “Buy” and a consensus price target of $78.58.
Shares of Prothena Corporation PLC (NASDAQ PRTA) opened at 62.60 on Friday. The stock’s market cap is $2.40 billion. The firm’s 50-day moving average price is $61.51 and its 200 day moving average price is $57.20. Prothena Corporation PLC has a one year low of $40.58 and a one year high of $70.00.
Prothena Corporation PLC (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.43. Prothena Corporation PLC had a negative return on equity of 33.20% and a negative net margin of 527.56%. The company had revenue of $26.81 million for the quarter, compared to analyst estimates of $16.08 million. During the same period last year, the company posted ($1.18) earnings per share. The firm’s revenue was up 7951.1% compared to the same quarter last year. Equities research analysts expect that Prothena Corporation PLC will post ($4.41) EPS for the current fiscal year.
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In related news, insider Karin L. Walker sold 5,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $64.89, for a total value of $324,450.00. Following the completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $324,450. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tara Nickerson sold 17,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 19,500 shares of the company’s stock, valued at $1,240,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,424 shares of company stock worth $2,247,237. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PRTA. Russell Investments Group Ltd. increased its holdings in Prothena Corporation PLC by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 12,030 shares of the biotechnology company’s stock valued at $671,000 after buying an additional 1,369 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Prothena Corporation PLC by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 171,970 shares of the biotechnology company’s stock valued at $9,594,000 after buying an additional 10,397 shares during the last quarter. Swiss National Bank increased its holdings in Prothena Corporation PLC by 31.2% in the first quarter. Swiss National Bank now owns 62,300 shares of the biotechnology company’s stock valued at $3,476,000 after buying an additional 14,800 shares during the last quarter. Karp Capital Management Corp bought a new stake in Prothena Corporation PLC in the first quarter valued at about $243,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Prothena Corporation PLC in the first quarter valued at about $167,000.
About Prothena Corporation PLC
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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