Prothena (NASDAQ:PRTA) Hits New 12-Month Low – What’s Next?

Prothena Co. plc (NASDAQ:PRTA) hit a new 52-week low on Wednesday . The company traded as low as $9.28 and last traded at $9.41, with a volume of 26306 shares traded. The stock had previously closed at $9.59.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRTA. Chardan Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Prothena in a research note on Friday, February 21st. Piper Sandler raised their price target on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Oppenheimer boosted their price objective on shares of Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Prothena Price Performance

The firm has a market cap of $502.21 million, a PE ratio of -4.06 and a beta of 0.07. The stock’s fifty day simple moving average is $13.18 and its 200-day simple moving average is $14.58.

Prothena (NASDAQ:PRTA) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). The firm had revenue of $2.12 million for the quarter, compared to analyst estimates of $7.53 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. Analysts expect that Prothena Co. plc will post -4.04 earnings per share for the current year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently bought and sold shares of PRTA. Barclays PLC raised its position in Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 49,916 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Prothena by 167.0% during the fourth quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after purchasing an additional 23,525 shares during the last quarter. Duncan Williams Asset Management LLC lifted its position in Prothena by 41.9% during the fourth quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock valued at $958,000 after purchasing an additional 20,450 shares during the period. Rhumbline Advisers lifted its position in Prothena by 1.8% during the fourth quarter. Rhumbline Advisers now owns 67,115 shares of the biotechnology company’s stock valued at $930,000 after purchasing an additional 1,175 shares during the period. Finally, Focused Wealth Management Inc purchased a new stake in Prothena in the fourth quarter valued at $445,000. Hedge funds and other 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.