Prothena Corp. (PRTA) Given Consensus Rating of “Buy” by Brokerages
Prothena Corp. (NASDAQ:PRTA) has earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.80.
A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Prothena Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of Prothena Corp. in a research note on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “buy” rating on shares of Prothena Corp. in a research note on Tuesday, July 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Prothena Corp. in a research note on Monday, July 18th. Finally, Barclays PLC increased their price target on Prothena Corp. from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th.
Prothena Corp. (NASDAQ:PRTA) traded down 2.81% on Wednesday, reaching $57.00. The company’s stock had a trading volume of 153,055 shares. Prothena Corp. has a 52-week low of $28.20 and a 52-week high of $76.42. The firm’s market cap is $1.96 billion. The stock’s 50 day moving average price is $57.01 and its 200 day moving average price is $49.02.
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Prothena Corp. (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by $0.27. The business earned $0.33 million during the quarter, compared to the consensus estimate of $0.39 million. Prothena Corp. had a negative net margin of 8,628.11% and a negative return on equity of 28.15%. The business’s revenue was up 22.2% on a year-over-year basis. Equities research analysts expect that Prothena Corp. will post ($4.25) earnings per share for the current fiscal year.
In related news, insider Arthur W. Homan sold 3,125 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $52.16, for a total transaction of $163,000.00. Following the sale, the insider now owns 3,125 shares of the company’s stock, valued at approximately $163,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karin L. Walker sold 12,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $61.10, for a total value of $733,200.00. Following the sale, the insider now directly owns 7,000 shares in the company, valued at approximately $427,700. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Prothena Corp. by 29.0% in the first quarter. Wellington Management Group LLP now owns 3,216,685 shares of the company’s stock worth $132,398,000 after buying an additional 722,889 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Prothena Corp. by 1.4% in the second quarter. BlackRock Fund Advisors now owns 1,265,857 shares of the company’s stock worth $44,254,000 after buying an additional 16,938 shares during the period. State Street Corp boosted its stake in shares of Prothena Corp. by 51.3% in the first quarter. State Street Corp now owns 1,224,523 shares of the company’s stock worth $50,406,000 after buying an additional 415,089 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Prothena Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 848,925 shares of the company’s stock worth $29,678,000 after buying an additional 2,227 shares during the period. Finally, Palo Alto Investors LLC boosted its stake in shares of Prothena Corp. by 13.4% in the second quarter. Palo Alto Investors LLC now owns 788,618 shares of the company’s stock worth $27,570,000 after buying an additional 93,100 shares during the period.
About Prothena Corp.
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 (PRX003).
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