Analysts Set Prothena Co. plc (NASDAQ:PRTA) Target Price at $55.00

Prothena Co. plc (NASDAQ:PRTA) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $55.00.

PRTA has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada lowered their price objective on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Bank of America dropped their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Piper Sandler lifted their price target on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Chardan Capital reissued a “buy” rating and issued a $40.00 price objective on shares of Prothena in a research note on Friday, February 21st.

Prothena Price Performance

Prothena stock opened at $9.59 on Friday. Prothena has a 1-year low of $9.30 and a 1-year high of $25.42. The company’s 50-day moving average is $13.18 and its 200 day moving average is $14.58. The firm has a market capitalization of $516.20 million, a P/E ratio of -4.17 and a beta of 0.07.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06). The business had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. Research analysts anticipate that Prothena will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of large investors have recently bought and sold shares of PRTA. Virtus ETF Advisers LLC boosted its position in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 833 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 5,875 shares during the last quarter. Headlands Technologies LLC boosted its position in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 4,858 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Prothena in the fourth quarter valued at about $145,000. Finally, Purkiss Capital Advisors LLC bought a new position in Prothena in the fourth quarter worth about $149,000. Institutional investors own 97.08% of the company’s stock.

About Prothena

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.