Several other research firms have also recently weighed in on PRTA. Wedbush cut Prothena from an outperform rating to a neutral rating and cut their target price for the stock from $75.00 to $55.00 in a research note on Monday, November 20th. Deutsche Bank set a $73.00 price target on shares of Prothena and gave the stock a buy rating in a report on Monday, October 23rd. ValuEngine downgraded Prothena from a hold rating to a sell rating in a report on Friday, October 6th. Jefferies Group reaffirmed a buy rating and set a $100.00 price target on shares of Prothena in a research report on Monday, October 2nd. Finally, SunTrust Banks reaffirmed a buy rating and set a $75.00 price target on shares of Prothena in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $76.75.
Prothena (PRTA) traded up $0.16 during mid-day trading on Monday, reaching $38.12. The company’s stock had a trading volume of 478,100 shares, compared to its average volume of 299,378. Prothena has a 52-week low of $37.37 and a 52-week high of $70.00.
Prothena (NASDAQ:PRTA) last released its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.04. The business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.28 million. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. Prothena’s quarterly revenue was down 33.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.26) earnings per share. equities analysts predict that Prothena will post -4.27 EPS for the current year.
In related news, insider Gene G. Kinney sold 2,800 shares of Prothena stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $70.00, for a total value of $196,000.00. Following the transaction, the insider now owns 5,593 shares in the company, valued at approximately $391,510. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tara Nickerson sold 17,500 shares of Prothena stock in a transaction on Monday, September 25th. The stock was sold at an average price of $63.60, for a total transaction of $1,113,000.00. Following the completion of the transaction, the insider now owns 19,500 shares in the company, valued at approximately $1,240,200. The disclosure for this sale can be found here. Insiders sold a total of 29,424 shares of company stock valued at $1,922,787 over the last quarter. 3.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Prothena by 16.2% during the first quarter. Vanguard Group Inc. now owns 699,858 shares of the biotechnology company’s stock worth $39,045,000 after acquiring an additional 97,631 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Prothena by 95.0% in the first quarter. Bank of America Corp DE now owns 15,875 shares of the biotechnology company’s stock worth $886,000 after buying an additional 7,735 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Prothena by 6.7% in the second quarter. Bank of Montreal Can now owns 1,858 shares of the biotechnology company’s stock worth $100,000 after buying an additional 117 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Prothena by 15.8% in the second quarter. Aperio Group LLC now owns 5,043 shares of the biotechnology company’s stock worth $273,000 after buying an additional 687 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Prothena by 181.6% during the second quarter. Russell Investments Group Ltd. now owns 33,876 shares of the biotechnology company’s stock valued at $1,834,000 after purchasing an additional 21,846 shares during the period.
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 and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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