Prothena (NASDAQ:PRTA) Stock Price Up 2.7%

Prothena Co. plc (NASDAQ:PRTA) shares were up 2.7% on Thursday . The stock traded as high as $53.29 and last traded at $53.29. Approximately 211 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 539,927 shares. The stock had previously closed at $51.90.

Several research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Prothena from $54.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, July 13th. Bank of America upgraded Prothena from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $49.00 in a research note on Friday, June 18th. Royal Bank of Canada raised their target price on Prothena from $50.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday. assumed coverage on Prothena in a research report on Wednesday, May 26th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Citigroup boosted their price objective on shares of Prothena from $57.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $56.70.

The company has a market capitalization of $2.20 billion, a PE ratio of -15.99, a PEG ratio of 96.70 and a beta of 1.58. The company’s 50 day moving average is $41.89.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Monday, May 10th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.11). The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.17 million. Prothena had a negative net margin of 14,255.73% and a negative return on equity of 57.65%. As a group, research analysts forecast that Prothena Co. plc will post 0.22 earnings per share for the current year.

In related news, insider Wagner M. Zago sold 115,250 shares of the firm’s stock in a transaction on Tuesday, June 22nd. The stock was sold at an average price of $46.15, for a total value of $5,318,787.50. Following the completion of the sale, the insider now owns 15,000 shares of the company’s stock, valued at $692,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher S. Henney sold 11,108 shares of Prothena stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $55.46, for a total transaction of $616,049.68. Following the completion of the sale, the director now owns 11,108 shares in the company, valued at approximately $616,049.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,250 shares of company stock valued at $7,833,842. 30.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of PRTA. Price T Rowe Associates Inc. MD increased its position in shares of Prothena by 22,878.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,312,346 shares of the biotechnology company’s stock valued at $83,206,000 after buying an additional 3,297,931 shares during the period. Redmile Group LLC bought a new stake in Prothena during the 1st quarter valued at approximately $46,650,000. First Light Asset Management LLC grew its holdings in shares of Prothena by 42.8% during the 1st quarter. First Light Asset Management LLC now owns 2,935,707 shares of the biotechnology company’s stock worth $73,745,000 after acquiring an additional 879,254 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Prothena by 876.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 352,527 shares of the biotechnology company’s stock worth $8,855,000 after acquiring an additional 316,420 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new position in shares of Prothena in the 1st quarter valued at approximately $2,182,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Prothena Company Profile (NASDAQ:PRTA)

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 PRX002/RG7935 that is in Phase 2 clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, an antibody that is in Phase 1 clinical trial for the treatment of ATTR amyloidosis.

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