The Zacks Investment Research Downgrades Prothena Co. PLC (PRTA) to Hold

The Zacks Investment Research Downgrades Prothena Co. PLC (PRTA) to Hold

According to Zacks, “The narrower-than-expected loss in the first quarter was encouraging. Prothena’s efforts on developing its pipeline are encouraging. The company's elicense agreement with Roche for the development and commercialization of selected antibodies targeting alpha-synuclein is a big positive. The collaboration not only boosts Prothena’s pipeline development but also provides it with funds in the form of research reimbursement and milestone payments.The company’s shares have outperformed the Medical/Biomedical Genetics industry in the past one year. However, Prothena is highly dependent on its collaboration partners for the development of its candidates. The company itself does not have enough resources to independently conduct studies on its candidates.”

Prothena Co. PLC (NASDAQ:PRTA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, May 15th.

Several other analysts also recently commented on PRTA. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Prothena Co. PLC in a report on Wednesday, February 15th. Nomura initiated coverage on shares of Prothena Co. PLC in a report on Wednesday, March 1st. They issued a “buy” rating on the stock. Instinet initiated coverage on shares of Prothena Co. PLC in a report on Wednesday, March 1st. They set a “buy” rating and a $87.00 price target on the stock. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Prothena Co. PLC in a report on Wednesday, March 22nd. Finally, Piper Jaffray Companies initiated coverage on shares of Prothena Co. PLC in a report on Wednesday, April 12th. They set an “overweight” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.50.

Shares of Prothena Co. PLC (NASDAQ:PRTA) opened at 52.425 on Monday. The company’s market cap is $1.99 billion. Prothena Co. PLC has a one year low of $33.53 and a one year high of $68.18. The firm’s 50-day moving average is $53.52 and its 200-day moving average is $53.49. Prothena Co. PLC (NASDAQ:PRTA) last released its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.33. The business had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.26 million. Prothena Co. PLC had a negative net margin of 13,661.78% and a negative return on equity of 32.94%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.81) EPS. On average, equities analysts anticipate that Prothena Co. PLC will post ($4.80) EPS for the current year.

Shares of Prothena Co. PLC (NASDAQ:PRTA) opened at 52.425 on Monday. The company’s market cap is $1.99 billion. Prothena Co. PLC has a one year low of $33.53 and a one year high of $68.18. The firm’s 50-day moving average is $53.52 and its 200-day moving average is $53.49. In other news, insider Karin L. Walker sold 5,000 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $52.25, for a total value of $261,250.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at $156,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis J. Selkoe sold 3,500 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $55.86, for a total transaction of $195,510.00. Following the completion of the sale, the director now owns 6,345 shares of the company’s stock, valued at $354,431.70. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in Prothena Co. PLC during the third quarter valued at about $7,292,000. BlackRock Fund Advisors boosted its stake in Prothena Co. PLC by 5.6% in the third quarter. BlackRock Fund Advisors now owns 1,337,144 shares of the biotechnology company’s stock valued at $80,189,000 after buying an additional 71,287 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Prothena Co. PLC by 7.8% in the third quarter. New York State Common Retirement Fund now owns 37,100 shares of the biotechnology company’s stock valued at $2,225,000 after buying an additional 2,700 shares during the last quarter. Rhumbline Advisers boosted its stake in Prothena Co. PLC by 6.6% in the third quarter. Rhumbline Advisers now owns 38,552 shares of the biotechnology company’s stock valued at $2,312,000 after buying an additional 2,370 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Prothena Co. PLC by 3.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 875,767 shares of the biotechnology company’s stock valued at $52,520,000 after buying an additional 26,842 shares during the last quarter. Prothena Co. PLC Company Profile

Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PRTA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Prothena Co. PLC (PRTA)

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