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

Prothena Corporation plc (NASDAQ:PRTA) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.50.

PRTA has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prothena in a research report on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $18.00 target price on shares of Prothena in a research report on Thursday, August 28th. HC Wainwright upped their target price on shares of Prothena from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. JMP Securities dropped their target price on shares of Prothena from $29.00 to $11.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 2nd. Finally, Piper Sandler dropped their target price on shares of Prothena from $81.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, August 28th.

Prothena Stock Performance

NASDAQ:PRTA opened at $10.37 on Tuesday. The stock’s fifty day moving average price is $9.13 and its two-hundred day moving average price is $7.75. Prothena has a 52-week low of $4.32 and a 52-week high of $18.88. The company has a market cap of $558.22 million, a price-to-earnings ratio of -1.84 and a beta of -0.11.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.75). Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%.The firm had revenue of $4.42 million for the quarter, compared to analyst estimates of $5.36 million. On average, equities analysts predict that Prothena will post -4.04 EPS for the current fiscal year.

Institutional Trading of Prothena

Hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc acquired a new stake in Prothena during the 2nd quarter worth $61,000. Tower Research Capital LLC TRC raised its stake in Prothena by 571.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock worth $77,000 after buying an additional 10,815 shares during the period. Corton Capital Inc. acquired a new stake in Prothena during the 2nd quarter worth $85,000. CWM LLC raised its stake in Prothena by 650.1% during the 3rd quarter. CWM LLC now owns 10,246 shares of the biotechnology company’s stock worth $100,000 after buying an additional 8,880 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Prothena during the 2nd quarter worth $101,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

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.