Prothena (PRTA) Shares Gap Down to $29.13

Prothena Co. PLC (NASDAQ:PRTA) gapped down before the market opened on Wednesday . The stock had previously closed at $27.15, but opened at $29.13. Prothena shares last traded at $28.81, with a volume of 671594 shares.

PRTA has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $65.00 target price on shares of Prothena in a report on Sunday, February 4th. Oppenheimer set a $70.00 target price on shares of Prothena and gave the stock a “buy” rating in a report on Monday, December 4th. Deutsche Bank set a $73.00 target price on shares of Prothena and gave the stock a “buy” rating in a report on Monday, October 23rd. Wedbush lowered shares of Prothena from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $55.00 in a report on Monday, November 20th. Finally, ValuEngine lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Prothena currently has a consensus rating of “Buy” and a consensus target price of $75.58.

The stock has a market cap of $1,060.00, a PE ratio of -6.65 and a beta of 2.67.

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

Several hedge funds have recently made changes to their positions in PRTA. Principal Financial Group Inc. boosted its position in shares of Prothena by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 6,808 shares of the biotechnology company’s stock valued at $368,000 after acquiring an additional 280 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Prothena by 8.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 120,603 shares of the biotechnology company’s stock valued at $6,527,000 after acquiring an additional 9,217 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Prothena by 0.9% during the 2nd quarter. Nationwide Fund Advisors now owns 46,504 shares of the biotechnology company’s stock valued at $2,517,000 after acquiring an additional 407 shares during the last quarter. BlackRock Inc. boosted its position in shares of Prothena by 7.8% during the 2nd quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock valued at $159,519,000 after acquiring an additional 213,578 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Prothena by 11.2% during the 2nd quarter. Amalgamated Bank now owns 4,731 shares of the biotechnology company’s stock valued at $256,000 after acquiring an additional 476 shares during the last quarter.

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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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