Prothena (NASDAQ:PRTA) Stock Price Up 7.8% – What’s Next?

Shares of Prothena Co. plc (NASDAQ:PRTA) were up 7.8% on Tuesday . The company traded as high as $13.67 and last traded at $13.59. Approximately 373,840 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 573,232 shares. The stock had previously closed at $12.61.

Wall Street Analyst Weigh In

PRTA has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and set a $84.00 target price on shares of Prothena in a research report on Wednesday, November 13th. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Bank of America reduced their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.83.

Prothena Trading Up 11.3 %

The company has a fifty day moving average price of $15.89 and a two-hundred day moving average price of $19.26. The firm has a market cap of $755.48 million, a P/E ratio of -5.66 and a beta of 0.09.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.22 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was down 98.9% on a year-over-year basis. As a group, sell-side analysts expect that Prothena Co. plc will post -2.24 EPS for the current year.

Hedge Funds Weigh In On Prothena

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Bank of New York Mellon Corp boosted its position in shares of Prothena by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 165,423 shares of the biotechnology company’s stock worth $3,414,000 after buying an additional 19,578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after acquiring an additional 1,186 shares in the last quarter. Signaturefd LLC boosted its position in Prothena by 182.1% during 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. Focused Wealth Management Inc grew its stake in shares of Prothena by 98.7% during the 2nd quarter. Focused Wealth Management Inc now owns 20,129 shares of the biotechnology company’s stock worth $415,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Prothena by 9.9% in the second quarter. Rhumbline Advisers now owns 69,756 shares of the biotechnology company’s stock valued at $1,440,000 after purchasing an additional 6,256 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.