Shares of Prothena Corporation plc (NASDAQ:PRTA – Get Free Report) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.75.
Several analysts have recently issued reports on PRTA shares. Weiss Ratings raised Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Stifel Nicolaus set a $19.00 price target on Prothena in a research note on Friday, March 13th. Wall Street Zen raised shares of Prothena from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Citizens Jmp increased their price objective on shares of Prothena from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Finally, Citigroup reissued an “outperform” rating on shares of Prothena in a report on Friday, May 8th.
Read Our Latest Report on PRTA
Prothena Trading Down 2.1%
Prothena (NASDAQ:PRTA – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.91. The firm had revenue of $51.08 million for the quarter, compared to analyst estimates of $0.81 million. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%. On average, equities research analysts forecast that Prothena will post 0.18 earnings per share for the current year.
Insider Activity
In other news, major shareholder William P. Scully purchased 20,000 shares of Prothena stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average price of $7.90 per share, for a total transaction of $158,000.00. Following the transaction, the insider owned 756,000 shares of the company’s stock, valued at approximately $5,972,400. The trade was a 2.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have purchased 345,000 shares of company stock worth $3,097,250. Company insiders own 10.40% of the company’s stock.
Institutional Trading of Prothena
Several institutional investors and hedge funds have recently modified their holdings of PRTA. Rubric Capital Management LP grew its position in Prothena by 138.7% in the fourth quarter. Rubric Capital Management LP now owns 3,677,331 shares of the biotechnology company’s stock valued at $35,119,000 after acquiring an additional 2,136,958 shares during the last quarter. State Street Corp boosted its stake in shares of Prothena by 151.7% in the 4th quarter. State Street Corp now owns 2,267,802 shares of the biotechnology company’s stock valued at $21,658,000 after purchasing an additional 1,366,764 shares in the last quarter. Rangeley Capital LLC acquired a new stake in shares of Prothena in the 2nd quarter valued at approximately $4,342,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Prothena during the 3rd quarter valued at approximately $6,386,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Prothena by 479.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 735,765 shares of the biotechnology company’s stock valued at $7,181,000 after purchasing an additional 608,814 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors.
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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