Prothena Corporation plc (NASDAQ:PRTA) Given Average Recommendation of “Hold” by Brokerages

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.7778.

PRTA has been the topic of a number of recent analyst reports. HC Wainwright boosted their price target on shares of Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Chardan Capital upgraded shares of Prothena to a “strong-buy” rating in a research note on Wednesday. UBS Group set a $36.00 target price on Prothena in a report on Tuesday, October 28th. Piper Sandler raised their price target on Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Prothena in a research note on Monday.

Institutional Investors Weigh In On Prothena

Hedge funds have recently added to or reduced their stakes in the stock. Purkiss Capital Advisors LLC increased its position in Prothena by 101.6% in the 1st quarter. Purkiss Capital Advisors LLC now owns 21,629 shares of the biotechnology company’s stock valued at $268,000 after acquiring an additional 10,900 shares in the last quarter. DCF Advisers LLC grew its stake in shares of Prothena by 88.4% during the first quarter. DCF Advisers LLC now owns 195,000 shares of the biotechnology company’s stock valued at $2,413,000 after purchasing an additional 91,500 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Prothena by 29.6% in the first quarter. Chicago Partners Investment Group LLC now owns 14,512 shares of the biotechnology company’s stock valued at $180,000 after purchasing an additional 3,315 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Prothena in the first quarter valued at approximately $1,856,000. Finally, American Century Companies Inc. raised its position in Prothena by 14.6% in the 1st quarter. American Century Companies Inc. now owns 34,836 shares of the biotechnology company’s stock worth $431,000 after purchasing an additional 4,437 shares during the last quarter. Institutional investors own 97.08% of the company’s stock.

Prothena Price Performance

Shares of NASDAQ:PRTA opened at $10.48 on Friday. The business’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $7.89. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $17.66. The stock has a market capitalization of $564.14 million, a price-to-earnings ratio of -1.86 and a beta of -0.09.

Prothena (NASDAQ:PRTA) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07). Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%. The firm had revenue of $2.42 million during the quarter, compared to analyst estimates of $6.64 million. Research analysts expect that Prothena will post -4.04 EPS for the current fiscal year.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.