Analysts Set Prothena Corporation PLC (PRTA) Target Price at $76.50

Shares of Prothena Corporation PLC (NASDAQ:PRTA) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $76.50.

A number of analysts recently issued reports on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Prothena in a report on Friday, September 29th. Oppenheimer set a $70.00 price objective on shares of Prothena and gave the stock a “buy” rating in a report on Monday. BTIG Research reduced their price objective on shares of Prothena from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, September 29th. Zacks Investment Research raised shares of Prothena from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Friday, August 11th. Finally, ValuEngine raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Friday, September 1st.

In other news, insider Gene G. Kinney sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $70.00, for a total value of $196,000.00. Following the completion of the sale, the insider now directly owns 5,593 shares in the company, valued at approximately $391,510. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tara Nickerson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $63.60, for a total transaction of $1,113,000.00. Following the completion of the sale, the insider now owns 19,500 shares of the company’s stock, valued at $1,240,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,424 shares of company stock valued at $1,922,787. 3.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Prothena by 6.7% in the 2nd quarter. Bank of Montreal Can now owns 1,858 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 117 shares during the last quarter. Quantbot Technologies LP raised its holdings in Prothena by 672.7% during the 2nd quarter. Quantbot Technologies LP now owns 1,870 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,628 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prothena by 187.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,375 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 1,549 shares during the last quarter. Strs Ohio raised its holdings in Prothena by 69.2% during the 3rd quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 900 shares during the last quarter. Finally, Fieldpoint Private Securities LLC bought a new stake in Prothena during the 3rd quarter valued at $162,000.

Prothena (NASDAQ:PRTA) traded up $0.83 on Friday, hitting $47.32. 356,600 shares of the company were exchanged, compared to its average volume of 297,272. Prothena has a one year low of $44.03 and a one year high of $70.00.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.04. Prothena had a negative net margin of 562.19% and a negative return on equity of 34.40%. The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.28 million. During the same period last year, the firm earned ($1.26) earnings per share. The firm’s revenue was down 33.6% on a year-over-year basis. research analysts predict that Prothena will post -4.27 EPS for the current fiscal year.

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Prothena Company Profile

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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