Prothena Corporation PLC (PRTA) PT Set at $70.00 by Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. set a $70.00 price target on Prothena Corporation PLC (NASDAQ:PRTA) in a report published on Thursday, May 11th. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Instinet initiated coverage on shares of 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. Nomura initiated coverage on shares of Prothena Corporation PLC in a research report on Wednesday, March 1st. They set a buy rating for the company. Zacks Investment Research upgraded shares of Prothena Corporation PLC from a hold rating to a buy rating and set a $59.00 price objective for the company in a research report on Tuesday, April 18th. Wedbush reiterated an outperform rating and set a $77.00 price objective on shares of Prothena Corporation PLC in a research report on Wednesday, February 15th. Finally, Cantor Fitzgerald initiated coverage on shares of Prothena Corporation PLC in a research report on Wednesday, April 12th. They set an overweight rating and a $86.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Prothena Corporation PLC has a consensus rating of Buy and an average target price of $75.50.

Prothena Corporation PLC (NASDAQ PRTA) opened at 52.52 on Thursday. The company’s market capitalization is $2.00 billion. Prothena Corporation PLC has a 12 month low of $33.53 and a 12 month high of $68.18. The stock’s 50 day moving average is $53.21 and its 200-day moving average is $52.73.

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

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

Several hedge funds have recently made changes to their positions in PRTA. Redmile Group LLC increased its stake in shares of Prothena Corporation PLC by 44.0% in the third quarter. Redmile Group LLC now owns 701,659 shares of the biotechnology company’s stock valued at $42,078,000 after buying an additional 214,253 shares in the last quarter. Platinum Investment Management Ltd. increased its stake in shares of Prothena Corporation PLC by 12.8% in the third quarter. Platinum Investment Management Ltd. now owns 45,100 shares of the biotechnology company’s stock valued at $2,704,000 after buying an additional 5,100 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Prothena Corporation PLC during the third quarter valued at approximately $408,000. California State Teachers Retirement System increased its stake in shares of Prothena Corporation PLC by 1.0% in the third quarter. California State Teachers Retirement System now owns 73,531 shares of the biotechnology company’s stock valued at $4,410,000 after buying an additional 700 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Prothena Corporation PLC by 182.2% in the third quarter. SG Americas Securities LLC now owns 8,928 shares of the biotechnology company’s stock valued at $535,000 after buying an additional 5,764 shares in the last quarter.

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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