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

Prothena Co. plc (NASDAQ:PRTA) hit a new 52-week low on Friday . The stock traded as low as $15.22 and last traded at $15.24, with a volume of 84680 shares traded. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

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

Prothena Trading Down 7.5 %

The firm has a market cap of $800.78 million, a price-to-earnings ratio of -5.97 and a beta of 0.16. The firm’s 50-day moving average is $18.32 and its 200-day moving average is $20.38.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRTA. Signaturefd LLC increased its stake in Prothena by 182.1% in the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 863 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Prothena in the first quarter valued at about $96,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prothena by 13.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Prothena by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,344 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 4,026 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Prothena by 8.9% in the first 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 period. 97.08% of the stock is owned by hedge funds and other institutional investors.

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.