Prothena (NASDAQ:PRTA) Reaches New 1-Year Low at $20.32

Prothena Co. plc (NASDAQ:PRTA)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $20.32 and last traded at $20.46, with a volume of 24302 shares trading hands. The stock had previously closed at $20.56.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PRTA shares. Bank of America reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. Oppenheimer decreased their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada cut their price target on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Prothena in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Prothena Stock Down 0.6 %

The company has a market cap of $1.10 billion, a price-to-earnings ratio of -7.29 and a beta of 0.21. The stock has a 50 day simple moving average of $25.78 and a 200 day simple moving average of $32.49.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $2.15 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue was down 99.4% compared to the same quarter last year. As a group, equities research analysts expect that Prothena Co. plc will post -4.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Prothena

A number of institutional investors have recently added to or reduced their stakes in PRTA. China Universal Asset Management Co. Ltd. boosted its stake in shares of Prothena by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 684 shares during the last quarter. Headlands Technologies LLC acquired a new position in Prothena during the 3rd quarter worth $74,000. PNC Financial Services Group Inc. increased its position in shares of Prothena by 265.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Prothena by 58.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,096 shares of the biotechnology company’s stock valued at $149,000 after purchasing an additional 1,140 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Prothena in the 4th quarter valued at about $222,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

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.