Prothena Corp. (PRTA) Sees Strong Trading Volume
Shares of Prothena Corp. (NASDAQ:PRTA) saw strong trading volume on Wednesday . 328,962 shares were traded during trading, a decline of 0% from the previous session’s volume of 330,150 shares.The stock last traded at $54.98 and had previously closed at $54.19.
Several research analysts have issued reports on the stock. Barclays PLC raised their price target on shares of Prothena Corp. from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of Prothena Corp. in a research note on Wednesday, August 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Prothena Corp. in a research note on Monday, July 18th. Credit Suisse Group AG reiterated a “buy” rating on shares of Prothena Corp. in a research note on Friday, June 10th. Finally, Zacks Investment Research upgraded shares of Prothena Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $76.60.
The firm’s market capitalization is $1.72 billion. The stock’s 50 day moving average is $52.28 and its 200-day moving average is $43.66.
Prothena Corp. (NASDAQ:PRTA) last announced its earnings results on Tuesday, August 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by $0.27. The company earned $0.33 million during the quarter, compared to the consensus estimate of $0.39 million. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that Prothena Corp. will post ($4.25) earnings per share for the current year.
In other Prothena Corp. news, insider Arthur W. Homan sold 9,375 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $52.14, for a total value of $488,812.50. Following the completion of the transaction, the insider now owns 9,375 shares in the company, valued at $488,812.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of institutional investors have recently bought and sold shares of PRTA. 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 during the period. Jennison Associates LLC increased its position in shares of Prothena Corp. by 0.5% in the fourth quarter. Jennison Associates LLC now owns 406,677 shares of the company’s stock valued at $27,699,000 after buying an additional 1,912 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Prothena Corp. by 2,138.8% in the fourth quarter. Wells Fargo & Company MN now owns 245,639 shares of the company’s stock valued at $16,730,000 after buying an additional 234,667 shares during 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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