Prothena Corporation plc (NASDAQ:PRTA) Receives $25.60 Average Price Target from Analysts

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $21.5556.

PRTA has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Prothena from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Piper Sandler boosted their price target on shares of Prothena from $15.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Chardan Capital upgraded shares of Prothena to a “strong-buy” rating in a report on Wednesday, November 19th. HC Wainwright lifted their price objective on shares of Prothena from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Prothena in a research note on Monday, December 1st.

Institutional Investors Weigh In On Prothena

Several hedge funds and other institutional investors have recently made changes to their positions in PRTA. Rubric Capital Management LP acquired a new position in Prothena in the third quarter valued at approximately $15,034,000. Acadian Asset Management LLC acquired a new position in shares of Prothena in the 2nd quarter valued at $6,176,000. Rangeley Capital LLC acquired a new position in shares of Prothena in the 2nd quarter valued at $4,342,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Prothena in the 3rd quarter valued at $6,386,000. Finally, Federated Hermes Inc. raised its stake in Prothena by 116.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,181,087 shares of the biotechnology company’s stock worth $7,169,000 after acquiring an additional 634,832 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Stock Up 6.7%

Prothena stock opened at $8.91 on Thursday. Prothena has a 52-week low of $4.32 and a 52-week high of $16.67. The firm has a market cap of $479.63 million, a PE ratio of -1.71, a price-to-earnings-growth ratio of 1.88 and a beta of -0.11. The company’s 50 day moving average is $9.58 and its two-hundred day moving average is $9.27.

Prothena (NASDAQ:PRTA) last posted its quarterly 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). The business had revenue of $2.42 million during the quarter, compared to analyst estimates of $6.64 million. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,379.59%. On average, equities research analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

About Prothena

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.