Shares of Prothena Corporation plc (NASDAQ:PRTA – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.75.
Several brokerages have recently weighed in on PRTA. Citigroup reiterated an “outperform” rating on shares of Prothena in a report on Friday, May 8th. Citizens Jmp boosted their target price on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen downgraded shares of Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday.
Read Our Latest Report on PRTA
Prothena Stock Performance
Prothena (NASDAQ:PRTA – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.91. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. The company had revenue of $51.08 million for the quarter, compared to analysts’ expectations of $0.81 million. On average, analysts forecast that Prothena will post 0.18 EPS for the current fiscal year.
Insider Buying and Selling at Prothena
In other news, major shareholder William P. Scully bought 125,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $8.17 per share, with a total value of $1,021,250.00. Following the transaction, the insider owned 1,061,000 shares of the company’s stock, valued at $8,668,370. This represents a 13.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders acquired 345,000 shares of company stock valued at $3,097,250. Company insiders own 10.40% of the company’s stock.
Institutional Investors Weigh In On Prothena
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in shares of Prothena in the 1st quarter valued at about $230,000. Creative Planning grew its holdings in shares of Prothena by 373.0% during the 2nd quarter. Creative Planning now owns 50,569 shares of the biotechnology company’s stock worth $307,000 after purchasing an additional 39,879 shares during the period. American Century Companies Inc. increased its position in Prothena by 72.1% during the 2nd quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company’s stock worth $364,000 after purchasing an additional 25,129 shares in the last quarter. Russell Investments Group Ltd. increased its position in Prothena by 7,956.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,196 shares of the biotechnology company’s stock worth $584,000 after purchasing an additional 95,002 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Prothena by 251.8% in the second quarter. Hsbc Holdings PLC now owns 46,047 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 32,959 shares during the period. 97.08% of the stock is currently owned by institutional investors and hedge funds.
Prothena Company Profile
Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.
The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.
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