Prothena (NASDAQ:PRTA) Hits New 12-Month Low – What’s Next?

Prothena Co. plc (NASDAQ:PRTA)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $15.22 and last traded at $15.24, with a volume of 84680 shares changing hands. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada cut their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Oppenheimer lowered their price target on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Bank of America decreased their price target on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $84.00 price target on shares of Prothena in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Trading Down 7.5 %

The company has a market capitalization of $800.78 million, a P/E ratio of -5.97 and a beta of 0.16. The business’s fifty day moving average price is $18.32 and its 200-day moving average price is $20.38.

Prothena (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.08. The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue was down 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, equities research analysts forecast that Prothena Co. plc will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Prothena

Several large investors have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Prothena during the 1st quarter worth $96,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Prothena by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 4,026 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Prothena by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 932 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Prothena Company Profile

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.