Brokerages Set Prothena Corporation plc (NASDAQ:PRTA) PT at $21.78

Prothena Corporation plc (NASDAQ:PRTA) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.7778.

Several equities analysts have commented on the company. Stifel Nicolaus set a $19.00 price target on Prothena in a report on Friday, March 13th. Citigroup reiterated an “outperform” rating on shares of Prothena in a research note on Friday, May 8th. Royal Bank Of Canada upped their price objective on Prothena from $11.00 to $12.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Citizens Jmp upped their price objective on Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday.

Prothena Stock Down 1.7%

Prothena stock opened at $9.59 on Friday. The business has a 50 day moving average price of $10.01 and a two-hundred day moving average price of $9.79. The stock has a market cap of $502.04 million, a price-to-earnings ratio of -3.40, a price-to-earnings-growth ratio of 1.56 and a beta of -0.23. Prothena has a 12 month low of $4.32 and a 12 month high of $11.80.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, beating the consensus estimate of ($0.31) by $0.91. The firm had revenue of $51.08 million during the quarter, compared to analysts’ expectations of $0.81 million. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%. On average, analysts expect that Prothena will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prothena

Several large investors have recently modified their holdings of the stock. ADAR1 Capital Management LLC grew its stake in shares of Prothena by 8.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company’s stock valued at $15,372,000 after purchasing an additional 123,679 shares during the period. Rubric Capital Management LP grew its stake in shares of Prothena by 36.0% in the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company’s stock valued at $48,600,000 after purchasing an additional 1,322,669 shares during the period. Quantinno Capital Management LP grew its stake in shares of Prothena by 39.3% in the 1st quarter. Quantinno Capital Management LP now owns 144,299 shares of the biotechnology company’s stock valued at $1,403,000 after purchasing an additional 40,681 shares during the period. Renaissance Technologies LLC grew its stake in shares of Prothena by 39.5% in the 1st quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company’s stock valued at $5,905,000 after purchasing an additional 172,000 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Prothena in the 1st quarter valued at approximately $168,000. 97.08% of the stock is currently owned by institutional investors.

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.