Shares of Prothena Co. PLC (NASDAQ:PRTA) have received an average rating of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.86.
Several brokerages have issued reports on PRTA. BidaskClub upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Wednesday. Oppenheimer reiterated a “hold” rating on shares of Prothena in a research note on Sunday, November 11th. ValuEngine upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Friday, November 23rd. Finally, Zacks Investment Research raised shares of Prothena from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research report on Tuesday.
Shares of NASDAQ:PRTA traded up $0.38 during midday trading on Friday, reaching $11.63. 24,057 shares of the company were exchanged, compared to its average volume of 465,975. Prothena has a fifty-two week low of $8.63 and a fifty-two week high of $46.14. The firm has a market cap of $450.86 million, a price-to-earnings ratio of -2.84 and a beta of 2.43.
Several institutional investors and hedge funds have recently made changes to their positions in PRTA. Oppenheimer & Co. Inc. grew its position in shares of Prothena by 47.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,455 shares of the biotechnology company’s stock valued at $166,000 after acquiring an additional 3,700 shares during the period. Raymond James & Associates bought a new stake in shares of Prothena during the 2nd quarter worth about $170,000. Marshall Wace LLP bought a new stake in shares of Prothena during the 3rd quarter worth about $191,000. Trexquant Investment LP bought a new stake in shares of Prothena during the 3rd quarter worth about $301,000. Finally, Traynor Capital Management Inc. boosted its holdings in shares of Prothena by 21.1% during the 3rd quarter. Traynor Capital Management Inc. now owns 24,350 shares of the biotechnology company’s stock worth $318,000 after buying an additional 4,250 shares during the period.
Prothena Company Profile
Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on the discovery, development, and commercialization of novel immunotherapies for the treatment of diseases in the neuroscience and orphan categories. The company is developing antibody-based product candidates that include NEOD001, a monoclonal antibody that is in Phase III and Phase IIb clinical trials for the treatment of AL amyloidosis; PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a monoclonal antibody that is under preclinical development for the treatment of ATTR Amyloidosis.
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