Prothena Co. plc (NASDAQ:PRTA) Receives $78.40 Average PT from Analysts

Prothena Co. plc (NASDAQ:PRTAGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $78.40.

PRTA has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Prothena from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, October 24th. TheStreet lowered shares of Prothena from a “c-” rating to a “d” rating in a research note on Friday, November 11th. StockNews.com initiated coverage on shares of Prothena in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. JMP Securities raised their target price on shares of Prothena from $50.00 to $81.00 in a research note on Wednesday, September 28th. Finally, Royal Bank of Canada lowered shares of Prothena from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $52.00 to $55.00 in a research note on Friday, November 4th. They noted that the move was a valuation call.

Insiders Place Their Bets

In other Prothena news, CFO Tran Nguyen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $30.75, for a total value of $307,500.00. Following the sale, the chief financial officer now directly owns 3,200 shares in the company, valued at approximately $98,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Hideki Garren sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $30.00, for a total transaction of $120,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tran Nguyen sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $30.75, for a total transaction of $307,500.00. Following the transaction, the chief financial officer now directly owns 3,200 shares of the company’s stock, valued at $98,400. The disclosure for this sale can be found here. Insiders have sold 174,631 shares of company stock worth $9,281,364 in the last ninety days. Insiders own 31.20% of the company’s stock.

Hedge Funds Weigh In On Prothena

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC lifted its holdings in Prothena by 362.8% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 38,407 shares of the biotechnology company’s stock valued at $2,329,000 after purchasing an additional 30,108 shares during the last quarter. Algert Global LLC bought a new position in Prothena during the 3rd quarter valued at about $526,000. Perceptive Advisors LLC bought a new position in Prothena during the 3rd quarter valued at about $13,945,000. Putnam Investments LLC lifted its holdings in Prothena by 9.4% during the 3rd quarter. Putnam Investments LLC now owns 14,756 shares of the biotechnology company’s stock valued at $894,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in Prothena during the 3rd quarter valued at about $310,000. 93.92% of the stock is owned by institutional investors.

Prothena Stock Performance

Prothena stock opened at $61.95 on Friday. The firm’s fifty day simple moving average is $53.76 and its 200-day simple moving average is $37.27. Prothena has a 1-year low of $21.06 and a 1-year high of $65.35.

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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Analyst Recommendations for Prothena (NASDAQ:PRTA)

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