Prothena Co. plc (NASDAQ:PRTA – Get Rating)'s share price was up 3.2% during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $100.00 to $110.00. Oppenheimer currently has an outperform rating on the stock. Prothena traded as high as $60.35 and last traded at $59.83. Approximately 51,279 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 542,539 shares. The stock had previously closed at $58.00.
A number of other equities analysts have also recently issued reports on PRTA. Bank of America upgraded Prothena from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $65.00 in a report on Wednesday. JMP Securities raised their target price on Prothena from $50.00 to $81.00 in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on Prothena from $45.00 to $52.00 in a report on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $76.20.
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Insider Activity
In other news, insider Hideki Garren sold 8,000 shares of Prothena stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $30.00, for a total transaction of $240,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Hideki Garren sold 8,000 shares of Prothena stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $30.00, for a total transaction of $240,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gene G. Kinney sold 991 shares of Prothena stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $32.01, for a total value of $31,721.91. Following the transaction, the chief executive officer now owns 12,793 shares in the company, valued at approximately $409,503.93. The disclosure for this sale can be found here. Insiders have sold 148,498 shares of company stock worth $4,750,606 in the last 90 days. Corporate insiders own 31.20% of the company's stock.
Institutional Investors Weigh In On Prothena
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG raised its position in Prothena by 1.3% in the 2nd quarter. Credit Suisse AG now owns 27,724 shares of the biotechnology company's stock valued at $753,000 after buying an additional 369 shares during the last quarter. Lazard Asset Management LLC raised its position in Prothena by 61.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company's stock valued at $63,000 after buying an additional 657 shares during the last quarter. Teacher Retirement System of Texas raised its position in Prothena by 11.4% in the 1st quarter. Teacher Retirement System of Texas now owns 6,685 shares of the biotechnology company's stock valued at $244,000 after buying an additional 685 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Prothena by 22.7% in the 2nd quarter. Virtus ETF Advisers LLC now owns 4,523 shares of the biotechnology company's stock valued at $123,000 after buying an additional 837 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Prothena by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 43,305 shares of the biotechnology company's stock valued at $1,176,000 after buying an additional 992 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company's stock.
Prothena Stock Performance
The stock has a 50-day moving average of $31.23 and a 200-day moving average of $30.82. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -247.79 and a beta of 1.33.
Prothena (NASDAQ:PRTA – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The biotechnology company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.37). The company had revenue of $1.31 million for the quarter, compared to analyst estimates of $20.12 million. Prothena had a negative return on equity of 0.33% and a negative net margin of 1.03%. Sell-side analysts predict that Prothena Co. plc will post -2.57 EPS for the current fiscal year.
Prothena Company Profile
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Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.
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