Analysts Set Prothena Co. plc (NASDAQ:PRTA) Price Target at $78.40

Prothena Co. plc (NASDAQ:PRTAGet Rating) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $78.40.

PRTA has been the topic of a number of recent research reports. Bank of America upgraded shares of Prothena from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $65.00 in a research note on Wednesday, September 28th. Oppenheimer lifted their price objective on shares of Prothena from $110.00 to $120.00 in a research note on Tuesday, November 15th. Royal Bank of Canada lowered shares of Prothena from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $52.00 to $55.00 in a research note on Friday, November 4th. They noted that the move was a valuation call. JMP Securities lifted their price objective on shares of Prothena from $50.00 to $81.00 in a research note on Wednesday, September 28th. Finally, StockNews.com started coverage on shares of Prothena in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

Insider Transactions at Prothena

In other news, CFO Tran Nguyen sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $30.17, for a total transaction of $301,700.00. Following the transaction, the chief financial officer now directly owns 3,200 shares in the company, valued at $96,544. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Prothena news, Director Shane Cooke sold 5,000 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $55.91, for a total transaction of $279,550.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tran Nguyen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $30.17, for a total transaction of $301,700.00. Following the transaction, the chief financial officer now owns 3,200 shares in the company, valued at $96,544. The disclosure for this sale can be found here. Insiders have sold a total of 184,631 shares of company stock worth $9,583,064 over the last ninety days. 31.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. BNP Paribas Arbitrage SNC lifted its holdings in shares of Prothena by 362.8% in the third quarter. BNP Paribas Arbitrage SNC now owns 38,407 shares of the biotechnology company’s stock valued at $2,329,000 after purchasing an additional 30,108 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Prothena in the third quarter valued at about $526,000. Perceptive Advisors LLC purchased a new stake in shares of Prothena in the third quarter valued at about $13,945,000. Putnam Investments LLC lifted its holdings in shares of Prothena by 9.4% in the third quarter. Putnam Investments LLC now owns 14,756 shares of the biotechnology company’s stock valued at $894,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Prothena in the third quarter valued at about $310,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Prothena Price Performance

Shares of PRTA opened at $58.12 on Friday. The stock has a market cap of $2.81 billion, a PE ratio of -17.40 and a beta of 0.48. Prothena has a 1-year low of $21.06 and a 1-year high of $65.35. The firm has a fifty day moving average price of $51.21 and a 200 day moving average price of $36.49.

About Prothena

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Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.

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Analyst Recommendations for Prothena (NASDAQ:PRTA)

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