According to Zacks, “Prothena is a development-stage biotech company with its focus on the development of novel protein immunotherapies. The company’s top line consists entirely of collaboration revenues from its partners and other revenues from third parties. Moreover, the company depends on its only late-stage pipeline candidate, NEOD001, being developed for the treatment of amyloid light-chain amyloidosis (AL amyloidosis). Any unfavorable outcome on the candidate would adversely impact the company. Also, the company has a limited number of candidates in the pipeline, most of which are several years from commercialization. Nevertheless, Prothena’s license agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration should boost the company’s pipeline development and provide it with funds in the form of research reimbursement and milestone payments.”
PRTA has been the subject of several other research reports. Credit Suisse Group AG restated a buy rating and issued a $65.00 target price on shares of Prothena Corp. in a research note on Sunday, September 11th. Royal Bank Of Canada restated a buy rating on shares of Prothena Corp. in a research note on Wednesday, June 22nd. Wedbush restated an outperform rating and issued a $77.00 target price on shares of Prothena Corp. in a research note on Monday, September 26th. Finally, Barclays PLC raised their target price on shares of Prothena Corp. from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Prothena Corp. has a consensus rating of Buy and an average price target of $76.80.
Prothena Corp. (NASDAQ:PRTA) opened at 61.02 on Tuesday. The company’s 50-day moving average is $56.67 and its 200-day moving average is $48.67. The firm’s market capitalization is $2.10 billion. Prothena Corp. has a 52-week low of $28.20 and a 52-week high of $76.42.
Prothena Corp. (NASDAQ:PRTA) last released its earnings results on Tuesday, August 2nd. The company reported ($1.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.27. Prothena Corp. had a negative return on equity of 28.15% and a negative net margin of 8,628.11%. The firm earned $0.33 million during the quarter, compared to analyst estimates of $0.39 million. The business’s revenue was up 22.2% on a year-over-year basis. Equities analysts predict that Prothena Corp. will post ($4.25) earnings per share for the current year.
In other Prothena Corp. news, insider Karin L. Walker sold 12,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $61.10, for a total transaction of $733,200.00. Following the completion of the transaction, the insider now directly owns 7,000 shares in the company, valued at approximately $427,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arthur W. Homan sold 9,375 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $52.14, for a total transaction of $488,812.50. Following the transaction, the insider now owns 9,375 shares of the company’s stock, valued at $488,812.50. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Prothena Corp. by 197.8% in the first quarter. BlackRock Inc. now owns 2,656 shares of the company’s stock valued at $110,000 after buying an additional 1,764 shares during the period. Societe Generale acquired a new position in Prothena Corp. during the second quarter valued at $111,000. First Mercantile Trust Co. acquired a new position in Prothena Corp. during the third quarter valued at $210,000. Amalgamated Bank acquired a new position in Prothena Corp. during the second quarter valued at $208,000. Finally, Teacher Retirement System of Texas increased its position in Prothena Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,021 shares of the company’s stock valued at $141,000 after buying an additional 493 shares during the period.
Prothena Corp. 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 (PRX003).
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