Prothena Co. plc (NASDAQ:PRTA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Prothena Co. plc (NASDAQ:PRTA) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $61.86.

A number of equities analysts recently commented on PRTA shares. Oppenheimer dropped their target price on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Bank of America dropped their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $84.00 target price on shares of Prothena in a report on Tuesday, October 1st. Finally, Royal Bank of Canada cut their price target on Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Prothena

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its stake in Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 863 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Prothena in the first quarter valued at approximately $96,000. China Universal Asset Management Co. Ltd. lifted 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 worth $173,000 after purchasing an additional 4,026 shares during the period. Intech Investment Management LLC purchased a new position in Prothena in the 3rd quarter valued at $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 1,186 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Prothena Stock Up 2.1 %

NASDAQ:PRTA opened at $18.08 on Tuesday. Prothena has a 52 week low of $15.30 and a 52 week high of $41.54. The stock’s fifty day moving average is $18.56 and its two-hundred day moving average is $20.46. The stock has a market capitalization of $972.34 million, a price-to-earnings ratio of -18.08 and a beta of 0.16.

About Prothena

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.