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

Shares of Prothena Co. plc (NASDAQ:PRTA) have been given an average recommendation of “Hold” by the nine analysts that are covering the company, Marketbeat.com reports. One analyst has 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 target among brokerages that have updated their coverage on the stock in the last year is $31.50.

A number of research analysts have commented on PRTA shares. Piper Sandler reduced their price objective on Prothena from $110.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Chardan Capital reduced their price objective on Prothena from $40.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 27th. HC Wainwright reduced their price objective on Prothena from $30.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 27th. Oppenheimer cut Prothena from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald downgraded Prothena from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Siren L.L.C. boosted its holdings in Prothena by 16.7% in the first quarter. Siren L.L.C. now owns 1,283,555 shares of the biotechnology company’s stock valued at $15,884,000 after purchasing an additional 183,715 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Prothena during the 1st quarter worth approximately $230,000. Birchview Capital LP lifted its holdings in Prothena by 9.3% during the 1st quarter. Birchview Capital LP now owns 332,974 shares of the biotechnology company’s stock worth $4,121,000 after buying an additional 28,400 shares during the last quarter. PDT Partners LLC lifted its holdings in Prothena by 18.2% during the 1st quarter. PDT Partners LLC now owns 150,316 shares of the biotechnology company’s stock worth $1,860,000 after buying an additional 23,113 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Prothena by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,199,528 shares of the biotechnology company’s stock worth $64,344,000 after buying an additional 68,652 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Price Performance

Shares of PRTA opened at $5.41 on Friday. The stock’s 50-day moving average is $8.10 and its two-hundred day moving average is $12.14. The stock has a market cap of $291.20 million, a PE ratio of -2.35 and a beta of -0.08. Prothena has a 12 month low of $4.32 and a 12 month high of $25.42.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.20). The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $8.18 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company’s revenue for the quarter was up 5500.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.34) EPS. On average, research analysts anticipate that Prothena will post -4.04 earnings per share for the current year.

Prothena Company Profile

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.