Analysts Set Prothena Co. PLC (PRTA) Price Target at $77.43

Prothena Co. PLC (NASDAQ:PRTA) has been assigned a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $77.43.

A number of research analysts have recently weighed in on PRTA shares. Zacks Investment Research cut Prothena Co. PLC from a “buy” rating to a “hold” rating in a research report on Thursday, December 8th. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of Prothena Co. PLC in a research report on Wednesday, February 15th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Prothena Co. PLC in a research report on Wednesday, March 22nd. Instinet started coverage on Prothena Co. PLC in a research report on Wednesday, March 1st. They issued a “buy” rating and a $87.00 price target for the company. Finally, SunTrust Banks, Inc. started coverage on Prothena Co. PLC in a research report on Tuesday, December 20th. They issued a “buy” rating and a $75.00 price target for the company.

In other news, insider Arthur W. Homan sold 3,125 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $52.25, for a total value of $163,281.25. Following the completion of the transaction, the insider now owns 413 shares in the company, valued at $21,579.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Tran Nguyen purchased 1,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was purchased at an average price of $51.32 per share, with a total value of $51,320.00. Following the transaction, the chief financial officer now owns 3,200 shares of the company’s stock, valued at $164,224. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Advisors LLC raised its stake in Prothena Co. PLC by 6.7% in the third quarter. BlackRock Advisors LLC now owns 138,421 shares of the company’s stock worth $8,301,000 after buying an additional 8,691 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Prothena Co. PLC during the third quarter worth approximately $7,292,000. BlackRock Investment Management LLC raised its stake in Prothena Co. PLC by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 136,518 shares of the company’s stock worth $8,187,000 after buying an additional 1,148 shares during the last quarter. Columbus Circle Investors bought a new stake in Prothena Co. PLC during the third quarter worth approximately $7,864,000. Finally, BlackRock Fund Advisors raised its stake in Prothena Co. PLC by 5.6% in the third quarter. BlackRock Fund Advisors now owns 1,337,144 shares of the company’s stock worth $80,189,000 after buying an additional 71,287 shares during the last quarter.

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Shares of Prothena Co. PLC (NASDAQ:PRTA) opened at 52.50 on Friday. The company has a 50-day moving average of $53.66 and a 200 day moving average of $54.43. The stock’s market capitalization is $1.84 billion. Prothena Co. PLC has a one year low of $33.53 and a one year high of $68.18.

Prothena Co. PLC (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, February 14th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.12) by $0.29. The business earned $0.20 million during the quarter, compared to analysts’ expectations of $5.35 million. Prothena Co. PLC had a negative return on equity of 32.65% and a negative net margin of 11,365.41%. The company’s revenue was down 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. Equities research analysts forecast that Prothena Co. PLC will post ($5.17) earnings per share for the current fiscal year.

About Prothena Co. PLC

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 (PRX003).

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