Prothena Corporation plc (NASDAQ:PRTA) Given Consensus Recommendation of “Hold” by Brokerages

Prothena Corporation plc (NASDAQ:PRTA) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.50.

A number of equities analysts have recently commented on the company. Royal Bank Of Canada dropped their price objective on Prothena from $18.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Piper Sandler decreased their target price on Prothena from $81.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, August 28th. Chardan Capital reissued a “buy” rating and set a $18.00 target price on shares of Prothena in a research report on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prothena in a research report on Wednesday, October 8th. Finally, HC Wainwright lifted their target price on Prothena from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th.

Institutional Investors Weigh In On Prothena

A number of institutional investors have recently added to or reduced their stakes in PRTA. Acadian Asset Management LLC bought a new stake in shares of Prothena in the 2nd quarter valued at approximately $6,176,000. Rangeley Capital LLC bought a new position in Prothena in the 2nd quarter valued at $4,342,000. Federated Hermes Inc. raised its position in Prothena by 116.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,181,087 shares of the biotechnology company’s stock valued at $7,169,000 after purchasing an additional 634,832 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Prothena in the 2nd quarter valued at $3,495,000. Finally, Qube Research & Technologies Ltd bought a new position in Prothena in the 2nd quarter valued at $2,518,000. 97.08% of the stock is owned by institutional investors and hedge funds.

Prothena Stock Performance

Prothena stock opened at $10.37 on Tuesday. The business’s 50-day simple moving average is $9.13 and its 200-day simple moving average is $7.75. The firm has a market capitalization of $558.22 million, a PE ratio of -1.84 and a beta of -0.11. Prothena has a 52 week low of $4.32 and a 52 week high of $18.88.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.75). The business had revenue of $4.42 million during the quarter, compared to the consensus estimate of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. Research analysts forecast that Prothena will post -4.04 earnings per share for the current 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.