Prothena (NASDAQ:PRTA) has been given a $70.00 price target by equities researchers at Oppenheimer in a research note issued to investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 47.93% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Prothena from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Friday, August 11th. Jefferies Group reiterated a “buy” rating and issued a $100.00 price objective on shares of Prothena in a report on Monday, October 2nd. SunTrust Banks reiterated a “buy” rating and issued a $75.00 price objective on shares of Prothena in a report on Monday, October 2nd. Deutsche Bank reiterated a “buy” rating on shares of Prothena in a report on Sunday, October 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Prothena in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $76.75.

Prothena (NASDAQ:PRTA) traded up $0.83 during trading hours on Monday, hitting $47.32. The stock had a trading volume of 356,600 shares, compared to its average volume of 297,272. Prothena has a 52-week low of $44.03 and a 52-week high of $70.00.

Prothena (NASDAQ:PRTA) last posted its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.41) by $0.04. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The firm had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period last year, the firm earned ($1.26) EPS. The company’s quarterly revenue was down 33.6% on a year-over-year basis. analysts predict that Prothena will post -4.27 earnings per share for the current fiscal year.

In other news, Director Christopher S. Henney sold 900 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $70.00, for a total transaction of $63,000.00. Following the transaction, the director now directly owns 900 shares in the company, valued at approximately $63,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Tara Nickerson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $63.60, for a total value of $1,113,000.00. Following the transaction, the insider now owns 19,500 shares in the company, valued at $1,240,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,424 shares of company stock worth $1,922,787. Insiders own 3.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Prothena by 6.7% during the 2nd quarter. Bank of Montreal Can now owns 1,858 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 117 shares during the period. Quantbot Technologies LP raised its position in shares of Prothena by 672.7% during the 2nd quarter. Quantbot Technologies LP now owns 1,870 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,628 shares during the period. Strs Ohio purchased a new stake in shares of Prothena during the 3rd quarter valued at approximately $131,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Prothena by 187.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,375 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 1,549 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Prothena during the 3rd quarter valued at approximately $162,000.

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About Prothena

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).

Analyst Recommendations for Prothena (NASDAQ:PRTA)

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