Prothena Co. PLC (PRTA) Receives Average Rating of “Buy” from Analysts

Prothena Co. PLC (NASDAQ:PRTA) has been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.11.

PRTA has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Prothena in a report on Wednesday, December 20th. BidaskClub raised Prothena from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. ValuEngine lowered Prothena from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Oppenheimer set a $70.00 price objective on Prothena and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Wedbush lowered Prothena from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $55.00 in a report on Monday, November 20th.

Large investors have recently added to or reduced their stakes in the business. Strs Ohio grew its holdings in Prothena by 69.2% during the third quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock valued at $142,000 after purchasing an additional 900 shares during the period. Fieldpoint Private Securities LLC bought a new stake in Prothena during the third quarter valued at about $162,000. Teacher Retirement System of Texas bought a new stake in Prothena during the third quarter valued at about $206,000. HL Financial Services LLC bought a new stake in Prothena during the third quarter valued at about $208,000. Finally, Ameritas Investment Partners Inc. grew its holdings in Prothena by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 250 shares during the period.

Shares of Prothena (NASDAQ PRTA) traded up $1.21 on Wednesday, hitting $30.95. The company had a trading volume of 362,901 shares, compared to its average volume of 596,458. Prothena has a one year low of $27.19 and a one year high of $70.00. The company has a market capitalization of $1,170.00, a price-to-earnings ratio of -7.30 and a beta of 2.67.

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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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