Shares of Prothena Corp. (NASDAQ:PRTA) dropped 7.1% during mid-day trading on Wednesday . The stock traded as low as $43.83 and last traded at $44.25, with a volume of 271,621 shares trading hands. The stock had previously closed at $47.65.

A number of brokerages recently weighed in on PRTA. Zacks Investment Research raised shares of Prothena Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Prothena Corp. in a research report on Wednesday, June 22nd. Barclays PLC began coverage on shares of Prothena Corp. in a research report on Friday, May 13th. They set an “overweight” rating and a $60.00 price target for the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Prothena Corp. in a research report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of Prothena Corp. in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $74.60.

The company’s market cap is $1.67 billion. The stock’s 50 day moving average price is $43.27 and its 200 day moving average price is $42.31.

Prothena Corp. (NASDAQ:PRTA) last released its earnings results on Tuesday, May 3rd. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by $0.04. Equities research analysts forecast that Prothena Corp. will post ($3.72) earnings per share for the current year.

In other Prothena Corp. news, Director Dennis J. Selkoe sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the director now owns 3,025 shares in the company, valued at approximately $136,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Several hedge funds and institutional investors have added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its position in Prothena Corp. by 4.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 17,358 shares of the company’s stock worth $1,182,000 after buying an additional 803 shares in the last quarter. Morgan Stanley increased its position in Prothena Corp. by 10.8% in the fourth quarter. Morgan Stanley now owns 18,747 shares of the company’s stock worth $1,278,000 after buying an additional 1,830 shares in the last quarter. ProShare Advisors LLC increased its position in Prothena Corp. by 11.1% in the fourth quarter. ProShare Advisors LLC now owns 29,906 shares of the company’s stock worth $2,037,000 after buying an additional 2,990 shares in the last quarter. Rhumbline Advisers increased its position in Prothena Corp. by 7.5% in the fourth quarter. Rhumbline Advisers now owns 30,805 shares of the company’s stock worth $2,098,000 after buying an additional 2,140 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Prothena Corp. by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 31,000 shares of the company’s stock worth $2,111,000 after buying an additional 1,200 shares in the last quarter.

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 (PRX003).

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