Prothena Corporation PLC (PRTA) Given Buy Rating at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Prothena Corporation PLC (NASDAQ:PRTA) in a research note released on Tuesday, May 16th.

PRTA has been the subject of a number of other research reports. Instinet began coverage on Prothena Corporation PLC in a research report on Wednesday, March 1st. They set a buy rating and a $87.00 price objective for the company. Zacks Investment Research upgraded Prothena Corporation PLC from a hold rating to a buy rating and set a $59.00 price target for the company in a research report on Tuesday, April 18th. Cantor Fitzgerald began coverage on Prothena Corporation PLC in a research report on Wednesday, April 12th. They set an overweight rating and a $86.00 price target for the company. Nomura began coverage on Prothena Corporation PLC in a research report on Wednesday, March 1st. They set a buy rating for the company. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating on shares of Prothena Corporation PLC in a research report on Wednesday, March 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $75.50.

Prothena Corporation PLC (NASDAQ:PRTA) traded down 3.17% during midday trading on Tuesday, hitting $52.52. The stock had a trading volume of 267,668 shares. The stock has a 50-day moving average price of $53.21 and a 200 day moving average price of $52.73. The firm’s market cap is $2.00 billion. Prothena Corporation PLC has a one year low of $33.53 and a one year high of $68.18.

Prothena Corporation PLC (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.99) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.32) by $0.33. Prothena Corporation PLC had a negative return on equity of 39.67% and a negative net margin of 16,012.49%. The business had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.26 million. During the same quarter in the previous year, the firm posted ($0.81) EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that Prothena Corporation PLC will post ($4.76) earnings per share for the current year.

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In other news, Director Dennis J. Selkoe sold 3,500 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $55.86, for a total transaction of $195,510.00. Following the sale, the director now directly owns 6,345 shares of the company’s stock, valued at $354,431.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karin L. Walker sold 5,000 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $52.25, for a total value of $261,250.00. Following the sale, the insider now directly owns 3,000 shares in the company, valued at $156,750. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Prothena Corporation PLC during the first quarter worth about $167,000. Stifel Financial Corp bought a new stake in shares of Prothena Corporation PLC during the first quarter worth about $224,000. Karp Capital Management Corp bought a new stake in shares of Prothena Corporation PLC during the first quarter worth about $243,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Prothena Corporation PLC during the first quarter worth about $273,000. Finally, Focused Wealth Management Inc raised its stake in shares of Prothena Corporation PLC by 7.8% in the fourth quarter. Focused Wealth Management Inc now owns 6,250 shares of the biotechnology company’s stock worth $307,000 after buying an additional 450 shares during the period.

About Prothena Corporation PLC

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).

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