Brokerages Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $46.50

Prothena Co. plc (NASDAQ:PRTA) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $46.50.

A number of research firms have recently issued reports on PRTA. Chardan Capital began coverage on shares of Prothena in a report on Friday, December 20th. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price objective (down previously from $84.00) on shares of Prothena in a research note on Friday, December 20th. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Bank of America dropped their price target on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRTA. China Universal Asset Management Co. Ltd. lifted its stake in shares of Prothena by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 4,026 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Prothena in the fourth quarter valued at about $159,000. Intech Investment Management LLC purchased a new position in Prothena during the third quarter worth about $210,000. XTX Topco Ltd acquired a new stake in shares of Prothena during the third quarter valued at about $260,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Prothena by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after acquiring an additional 739 shares during the period. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Trading Down 3.2 %

Shares of Prothena stock opened at $14.23 on Friday. Prothena has a twelve month low of $11.70 and a twelve month high of $31.03. The firm has a market capitalization of $765.70 million, a PE ratio of -5.74 and a beta of 0.10. The firm’s 50-day moving average price is $14.43 and its 200 day moving average price is $17.70.

Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. During the same quarter last year, the business posted $0.38 earnings per share. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. On average, sell-side analysts predict that Prothena will post -2.24 EPS for the current fiscal year.

About Prothena

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.