Prothena Co. plc (NASDAQ: PRTA) Receives “Buy” Consensus Rating from Brokerages
Shares of Prothena Co. plc (NASDAQ: PRTA) have achieved a consensus “Buy” rating from the ten brokerages that cover the company, reports MarketBeat.com. Two research analysts rated the stock with a conservation rating and eight gave the company a buy rating. The one-year average price target among brokerage firms that reported on the stock in the past year is $ 56.70.
A number of equity research analysts commented on the company. Bank of America downgraded Prothena from an “underperforming” to a “neutral” rating and raised its price target for the company from $ 12.00 to $ 49.00 in a research report released on Friday June 18. Cantor Fitzgerald raised his price target on Prothena shares from $ 63.00 to $ 70.00 and assigned the company an “overweight” rating in a research note on Thursday, July 15. Royal Bank of Canada increased its price target on Prothena from $ 50.00 to $ 59.00 and rated the stock as “outperforming” in a report released on Monday July 19th. HC Wainwright raised its target price on Prothena shares from $ 58.00 to $ 75 and gave the share a “buy” rating in a research note on Tuesday, July 13. Finally, Oppenheimer raised its price target on Prothena shares from $ 54.00 to $ 76.00 and rated the stock as “outperforming” in a report released on Tuesday, July 13.
In addition, director Christopher S. Henney sold 11,108 shares in a transaction that took place on Wednesday, July 14. The stock was sold for an average price of $ 55.46, for a total value of $ 616,049.68. As a result of the sale, the director now directly owns 11,108 shares of the company, valued at $ 616,049.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In addition, director Christopher S. Henney sold 23,892 shares of the company in a transaction dated Monday, July 12. The shares were sold at an average price of $ 55.51, for a total transaction of $ 1,326,244.92. Following the closing of the sale, the director now directly owns 17,500 shares of the company, valued at $ 971,425. Disclosure of this sale can be found here. In the past three months, insiders have sold 162,250 shares of the company valued at $ 7,833,842. 30.40% of the shares are held by insiders.
A number of large investors have recently changed their holdings to PRTA. EAM Investors LLC purchased a new position in Prothena shares in the first quarter valued at approximately $ 1,549,000. Rafferty Asset Management LLC acquired a new position in Prothena in the first quarter valued at approximately $ 1,032,000. Palo Alto Investors LP increased its stake in Prothena by 3.0% during the first quarter. Palo Alto Investors LP now owns 1,742,505 shares of the biotech company valued at $ 43,772,000 after purchasing an additional 50,700 shares in the last quarter. ClariVest Asset Management LLC strengthened its position in Prothena shares by 68,333.3% in the 1st quarter. ClariVest Asset Management LLC now owns 28,742 shares of the biotech company valued at $ 722,000 after purchasing an additional 28,700 shares during the period. Finally, Citigroup Inc. increased its position in Prothena by 160.5% in the 4th quarter. Citigroup Inc. now owns 7,572 shares of the biotech company valued at $ 91,000 after purchasing an additional 4,665 shares in the last quarter. Institutional investors hold 90.49% of the shares of the company.
NASDAQ PRTA open for $ 51.48 Tuesday. The company has a 50-day moving average of $ 43.63. The company has a market cap of $ 2.27 billion, a P / E ratio of -16.55, a PEG ratio of 100.16 and a beta of 1.58. Prothena has a 12 month low of $ 9.67 and a 12 month high of $ 67.08.
Prothena (NASDAQ: PRTA) last released its quarterly earnings data on Monday, May 10. The biotech company reported ($ 0.91) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of $ 0.80 ($ 0.11). The company posted revenue of $ 0.16 million in the quarter, compared to the consensus estimate of $ 0.17 million. Prothena had a negative net margin of 14,255.73% and a negative return on equity of 57.65%. On average, analysts expect Prothena to post EPS of 0.22 for the current year.
Prothena Corporation plc, an advanced-stage clinical company, is focused on the discovery and development of new therapies for life-threatening diseases in the United States. The company is involved in the development of PRX002 / RG7935 which is in a phase 2 clinical trial for the treatment of Parkinson’s disease and other associated synucleinopathies; and PRX004, an antibody that is in a Phase 1 clinical trial for the treatment of ATTR amyloidosis.
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