Prothena Co. plc (NASDAQ:PRTA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Prothena Co. plc (NASDAQ:PRTA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $46.50.

A number of equities analysts have recently commented on PRTA shares. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price (down from $84.00) on shares of Prothena in a report on Friday, December 20th. Chardan Capital started coverage on shares of Prothena in a research note on Friday, December 20th. They issued a “buy” rating and a $40.00 price objective on the stock. Bank of America decreased their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Oppenheimer boosted their price target on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th.

Prothena Stock Performance

PRTA opened at $14.98 on Thursday. The stock has a market capitalization of $806.07 million, a P/E ratio of -6.04 and a beta of 0.08. Prothena has a one year low of $11.70 and a one year high of $31.03. The business’s 50-day simple moving average is $14.25 and its 200-day simple moving average is $16.84.

Institutional Investors Weigh In On Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTA. Creative Planning purchased a new stake in Prothena during the third quarter worth about $350,000. China Universal Asset Management Co. Ltd. boosted 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 worth $173,000 after acquiring an additional 4,026 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Prothena by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 125,747 shares of the biotechnology company’s stock worth $2,104,000 after acquiring an additional 2,847 shares during the period. GSA Capital Partners LLP purchased a new position in Prothena in the 3rd quarter valued at approximately $484,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Prothena by 8.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,492 shares of the biotechnology company’s stock worth $2,049,000 after purchasing an additional 9,666 shares during the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Company Profile

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.