Prothena (NASDAQ:PRTA) Shares Up 2.7%

Prothena Co. plc (NASDAQ:PRTA)’s share price shot up 2.7% on Thursday . The company traded as high as $53.29 and last traded at $53.29. Approximately 211 shares were traded during trading, a decline of 100% from the average daily volume of 539,927 shares. The stock had previously closed at $51.90.

A number of brokerages have recently issued reports on PRTA. Royal Bank of Canada lifted their price target on Prothena from $50.00 to $59.00 and gave the company an “outperform” rating in a report on Monday. HC Wainwright boosted their target price on shares of Prothena from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. BTIG Research increased their price target on shares of Prothena from $29.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, June 25th. Citigroup boosted their price objective on shares of Prothena from $57.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, July 13th. Finally, started coverage on shares of Prothena in a research report on Wednesday, May 26th. They set a “buy” rating and a $39.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Prothena has an average rating of “Buy” and an average price target of $56.70.

The company has a market capitalization of $2.20 billion, a P/E ratio of -15.99, a PEG ratio of 96.70 and a beta of 1.58. The stock has a 50-day moving average of $41.89.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Monday, May 10th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11). Prothena had a negative return on equity of 57.65% and a negative net margin of 14,255.73%. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.17 million. As a group, research analysts forecast that Prothena Co. plc will post 0.22 earnings per share for the current fiscal year.

In other Prothena news, insider Wagner M. Zago sold 115,250 shares of Prothena stock in a transaction that occurred on Tuesday, June 22nd. The shares were sold at an average price of $46.15, for a total transaction of $5,318,787.50. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $692,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Henney sold 23,892 shares of the company’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $55.51, for a total transaction of $1,326,244.92. Following the completion of the sale, the director now directly owns 17,500 shares in the company, valued at $971,425. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,250 shares of company stock worth $7,833,842. Company insiders own 30.40% of the company’s stock.

A number of large investors have recently bought and sold shares of PRTA. EAM Investors LLC purchased a new position in shares of Prothena during the 1st quarter valued at approximately $1,549,000. Rafferty Asset Management LLC purchased a new position in shares of Prothena during the 1st quarter valued at approximately $1,032,000. Palo Alto Investors LP increased its holdings in shares of Prothena by 3.0% during the 1st quarter. Palo Alto Investors LP now owns 1,742,505 shares of the biotechnology company’s stock valued at $43,772,000 after purchasing an additional 50,700 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Prothena by 68,333.3% during the 1st quarter. ClariVest Asset Management LLC now owns 28,742 shares of the biotechnology company’s stock valued at $722,000 after purchasing an additional 28,700 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Prothena by 160.5% during the 4th quarter. Citigroup Inc. now owns 7,572 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 4,665 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

About Prothena (NASDAQ:PRTA)

Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase 2 clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, an antibody that is in Phase 1 clinical trial for the treatment of ATTR amyloidosis.

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