Brokerages Set Prothena Corporation PLC (PRTA) Target Price at $78.70

Prothena Corporation PLC (NASDAQ:PRTA) has been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $78.70.

Several analysts have commented on the stock. BTIG Research decreased their price target on shares of Prothena Corporation PLC from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, September 29th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Prothena Corporation PLC in a research report on Friday, September 29th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Prothena Corporation PLC in a research report on Thursday, September 28th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Prothena Corporation PLC in a research report on Monday, October 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Prothena Corporation PLC in a research report on Monday, October 2nd.

Prothena Corporation PLC (NASDAQ:PRTA) traded up $1.14 during mid-day trading on Monday, hitting $56.63. 371,000 shares of the company’s stock traded hands, compared to its average volume of 289,411. Prothena Corporation PLC has a 1-year low of $45.13 and a 1-year high of $70.00.

Prothena Corporation PLC (NASDAQ:PRTA) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.41) by $0.04. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.28 million. Prothena Corporation PLC had a negative net margin of 562.19% and a negative return on equity of 34.40%. The company’s quarterly revenue was down 33.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.26) earnings per share. equities research analysts predict that Prothena Corporation PLC will post -4.41 EPS for the current year.

In related news, Director Christopher S. Henney sold 900 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $70.00, for a total value of $63,000.00. Following the transaction, the director now owns 900 shares in the company, valued at approximately $63,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tara Nickerson sold 17,500 shares of the stock in a transaction that occurred 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. In the last quarter, insiders sold 29,424 shares of company stock worth $1,922,787. 3.10% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Prothena Corporation PLC by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 6,528 shares of the biotechnology company’s stock worth $364,000 after buying an additional 77 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in Prothena Corporation PLC by 2.0% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 5,000 shares of the biotechnology company’s stock worth $271,000 after buying an additional 100 shares during the period. Bank of Montreal Can increased its holdings in Prothena Corporation PLC by 6.7% in the 2nd 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 during the period. ProShare Advisors LLC increased its holdings in Prothena Corporation PLC by 1.0% in the 2nd quarter. ProShare Advisors LLC now owns 22,910 shares of the biotechnology company’s stock worth $1,240,000 after buying an additional 216 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Prothena Corporation PLC by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock worth $176,000 after buying an additional 250 shares during the period.

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Prothena Corporation PLC 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).

Analyst Recommendations for Prothena Corporation PLC (NASDAQ:PRTA)

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