Prothena Corporation PLC (PRTA) Given Consensus Rating of “Buy” by Brokerages
Shares of Prothena Corporation PLC (NASDAQ:PRTA) have received a consensus recommendation of “Buy” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $79.33.
A number of brokerages have recently weighed in on PRTA. ValuEngine raised Prothena Corporation PLC from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Royal Bank Of Canada began coverage on Prothena Corporation PLC in a report on Thursday, September 14th. They issued an “outperform” rating and a $87.00 price objective on the stock. BidaskClub lowered Prothena Corporation PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC began coverage on Prothena Corporation PLC in a report on Monday, July 10th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $79.00 price objective on shares of Prothena Corporation PLC in a report on Thursday, September 28th.
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Shares of Prothena Corporation PLC (PRTA) traded down 1.64% during trading on Thursday, hitting $60.06. The stock had a trading volume of 230,282 shares. Prothena Corporation PLC has a 12 month low of $40.58 and a 12 month high of $70.00. The company’s market cap is $2.30 billion. The stock has a 50-day moving average price of $62.27 and a 200 day moving average price of $57.50.
Prothena Corporation PLC (NASDAQ:PRTA) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.43. The company had revenue of $26.81 million for the quarter, compared to analyst estimates of $16.08 million. Prothena Corporation PLC had a negative return on equity of 33.20% and a negative net margin of 527.56%. The firm’s quarterly revenue was up 7951.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.18) EPS. Equities analysts expect that Prothena Corporation PLC will post ($4.41) EPS for the current fiscal year.
In related news, insider Tara Nickerson sold 17,500 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $63.60, for a total transaction of $1,113,000.00. Following the sale, the insider now directly owns 19,500 shares of the company’s stock, valued at $1,240,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis J. Selkoe sold 3,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.17, for a total value of $224,595.00. 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. 3.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in Prothena Corporation PLC by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 250 shares during the period. Platinum Investment Management Ltd. grew its holdings in Prothena Corporation PLC by 8.3% during the second quarter. Platinum Investment Management Ltd. now owns 66,500 shares of the biotechnology company’s stock worth $3,598,000 after acquiring an additional 5,100 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Prothena Corporation PLC by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 28,559 shares of the biotechnology company’s stock worth $1,545,000 after acquiring an additional 2,664 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Prothena Corporation PLC during the second quarter worth about $287,000. Finally, PointState Capital LP acquired a new stake in Prothena Corporation PLC during the second quarter worth about $14,748,000.
Prothena Corporation PLC Company Profile
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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