Prothena Corporation plc (NASDAQ:PRTA) Receives $25.60 Average Price Target from Analysts

Shares of Prothena Corporation plc (NASDAQ:PRTA) have been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.5556.

A number of brokerages have recently weighed in on PRTA. Citigroup reissued a “market outperform” rating on shares of Prothena in a report on Monday, December 1st. Chardan Capital raised shares of Prothena to a “strong-buy” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Prothena in a report on Monday, December 29th. HC Wainwright upped their price target on shares of Prothena from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada lifted their price objective on Prothena from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th.

Prothena Price Performance

NASDAQ PRTA traded down $0.16 during trading on Thursday, hitting $8.78. The company’s stock had a trading volume of 103,075 shares, compared to its average volume of 470,405. The business’s 50 day simple moving average is $9.48 and its 200-day simple moving average is $9.31. The company has a market cap of $472.36 million, a PE ratio of -1.68, a P/E/G ratio of 1.89 and a beta of -0.11. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $16.67.

Institutional Trading of Prothena

Large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its stake in shares of Prothena by 5.5% in the 3rd quarter. Intech Investment Management LLC now owns 19,388 shares of the biotechnology company’s stock valued at $189,000 after purchasing an additional 1,014 shares during the last quarter. Brooklyn Investment Group lifted its position in Prothena by 13.1% in the third quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 1,456 shares during the last quarter. Deutsche Bank AG boosted its stake in Prothena by 5.1% during the fourth quarter. Deutsche Bank AG now owns 35,482 shares of the biotechnology company’s stock worth $339,000 after buying an additional 1,709 shares during the period. Purkiss Capital Advisors LLC increased its position in shares of Prothena by 15.1% during the second quarter. Purkiss Capital Advisors LLC now owns 24,904 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 3,275 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Prothena by 1.2% in the 2nd quarter. Nordea Investment Management AB now owns 311,605 shares of the biotechnology company’s stock valued at $1,916,000 after acquiring an additional 3,618 shares during the period. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.