Prothena (NASDAQ:PRTA) Trading Up 6.5% – What’s Next?

Prothena Co. plc (NASDAQ:PRTA)’s share price traded up 6.5% on Tuesday . The company traded as high as $14.01 and last traded at $14.01. 69,434 shares changed hands during trading, a decline of 82% from the average session volume of 391,969 shares. The stock had previously closed at $13.15.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective (down previously from $84.00) on shares of Prothena in a report on Friday, December 20th. Chardan Capital initiated coverage on shares of Prothena in a report on Friday, December 20th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Bank of America cut their target price on shares of Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.29.

Prothena Stock Performance

The firm has a 50-day moving average of $15.21 and a 200-day moving average of $18.58. The firm has a market capitalization of $760.32 million, a P/E ratio of -5.70 and a beta of 0.10.

Prothena (NASDAQ:PRTA) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.22 million. During the same period in the prior year, the business posted $0.38 earnings per share. Prothena’s revenue for the quarter was down 98.9% on a year-over-year basis. Equities analysts anticipate that Prothena Co. plc will post -2.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 4,026 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Prothena during the 3rd quarter valued at $210,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Prothena in the third quarter worth $260,000. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Prothena by 4.4% during the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares in the last quarter. Institutional investors 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.