Prothena (NASDAQ:PRTA) Reaches New 12-Month Low at $20.32

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Prothena in a report on Wednesday, March 13th. Oppenheimer reduced their price objective on Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Finally, Bank of America restated a “neutral” rating and issued a $38.00 price target (down from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Prothena Price Performance

The company has a market cap of $1.10 billion, a P/E ratio of -7.29 and a beta of 0.21. The stock has a 50-day moving average of $25.78 and a 200 day moving average of $32.49.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $2.15 million. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. The business’s revenue was down 99.4% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. Sell-side analysts predict that Prothena Co. plc will post -4.88 EPS for the current year.

Institutional Trading of Prothena

Several institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Prothena by 1.5% in the third quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock valued at $387,461,000 after acquiring an additional 117,524 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Prothena by 10.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after buying an additional 417,338 shares during the period. Wellington Management Group LLP lifted its holdings in Prothena by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock valued at $94,270,000 after buying an additional 452,455 shares during the period. Boxer Capital LLC grew its holdings in Prothena by 6.4% during the 4th quarter. Boxer Capital LLC now owns 665,000 shares of the biotechnology company’s stock worth $24,166,000 after acquiring an additional 40,000 shares during the period. Finally, Granahan Investment Management LLC grew its holdings in Prothena by 19.9% during the 4th quarter. Granahan Investment Management LLC now owns 417,157 shares of the biotechnology company’s stock worth $15,159,000 after acquiring an additional 69,092 shares during the period. Institutional investors 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.