Oppenheimer Analysts Give Prothena (PRTA) a $70.00 Price Target
PRTA has been the topic of several other reports. ValuEngine upgraded Prothena from a sell rating to a hold rating in a report on Friday, September 1st. Deutsche Bank set a $73.00 price objective on Prothena and gave the stock a buy rating in a research note on Monday, October 23rd. Zacks Investment Research raised Prothena from a hold rating to a buy rating and set a $66.00 price objective on the stock in a research note on Friday, August 11th. Wedbush lowered Prothena from an outperform rating to a neutral rating and cut their price objective for the stock from $75.00 to $55.00 in a research note on Monday, November 20th. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $79.00 price objective on shares of Prothena in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $76.75.
Shares of Prothena (NASDAQ:PRTA) opened at $39.17 on Monday. Prothena has a twelve month low of $38.99 and a twelve month high of $70.00.
Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. The company had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $0.28 million. Prothena had a negative return on equity of 34.40% and a negative net margin of 562.19%. The business’s quarterly revenue was down 33.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.26) earnings per share. research analysts anticipate that Prothena will post -4.27 EPS for the current year.
In other Prothena news, Director Dennis J. Selkoe sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.17, for a total value of $224,595.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tara Nickerson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $63.60, for a total value of $1,113,000.00. Following the completion of the transaction, the insider now directly owns 19,500 shares in the company, valued at $1,240,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,424 shares of company stock worth $1,922,787. 3.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PRTA. Westfield Capital Management Co. LP lifted its stake in Prothena by 186.0% in the second quarter. Westfield Capital Management Co. LP now owns 684,160 shares of the biotechnology company’s stock valued at $37,027,000 after buying an additional 444,966 shares during the period. Woodford Investment Management Ltd lifted its stake in Prothena by 2.6% in the second quarter. Woodford Investment Management Ltd now owns 11,400,424 shares of the biotechnology company’s stock valued at $616,991,000 after buying an additional 294,213 shares during the period. PointState Capital LP acquired a new position in Prothena in the second quarter valued at approximately $14,748,000. BlackRock Inc. lifted its stake in Prothena by 7.8% in the second quarter. BlackRock Inc. now owns 2,947,512 shares of the biotechnology company’s stock valued at $159,519,000 after buying an additional 213,578 shares during the period. Finally, State Street Corp lifted its stake in Prothena by 10.6% in the second quarter. State Street Corp now owns 1,181,365 shares of the biotechnology company’s stock valued at $63,932,000 after buying an additional 113,193 shares during the period.
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Prothena Company Profile
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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