Prothena (NASDAQ:PRTA) Trading 5.7% Higher – What’s Next?

by · The Cerbat Gem

Prothena Co. plc (NASDAQ:PRTA – Get Free Report) traded up 5.7% on Tuesday . The company traded as high as $18.59 and last traded at $18.59. 105,632 shares changed hands during trading, a decline of 82% from the average session volume of 587,920 shares. The stock had previously closed at $17.59.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Royal Bank of Canada decreased their target price on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $84.00 target price on shares of Prothena in a research note on Tuesday, October 1st. Oppenheimer reduced their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Bank of America reduced their price target on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.86.

View Our Latest Report on Prothena

Prothena Stock Down 6.0 %

The company’s fifty day moving average is $19.26 and its 200-day moving average is $20.67. The company has a market cap of $914.26 million, a PE ratio of -17.78 and a beta of 0.17.

Prothena (NASDAQ:PRTA – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $2.23. The business had revenue of $132.01 million for the quarter, compared to analysts’ expectations of $10.73 million. Prothena had a negative net margin of 23.44% and a negative return on equity of 9.00%. The company’s revenue was up 3184.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.03) EPS. Equities research analysts expect that Prothena Co. plc will post -2.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its stake in shares of Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 863 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,122 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Prothena during the 1st quarter valued at $96,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Prothena by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 4,026 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Company Profile

(Get Free Report)

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.

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