Prothena Corp. (PRTA) Trading 6.5% Higher
Prothena Corp. (NASDAQ:PRTA) shares traded up 6.5% on Wednesday . The company traded as high as $51.93 and last traded at $51.92, with a volume of 196,489 shares. The stock had previously closed at $48.74.
A number of research analysts have weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Prothena Corp. in a research note on Monday. Credit Suisse Group AG reissued a “buy” rating on shares of Prothena Corp. in a research note on Tuesday, July 12th. Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of Prothena Corp. in a research note on Tuesday, July 5th. Barclays PLC assumed coverage on Prothena Corp. in a research report on Friday, May 13th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research raised Prothena Corp. from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.60.
The firm has a 50-day moving average of $43.60 and a 200 day moving average of $41.66. The stock’s market cap is $1.82 billion.
Prothena Corp. (NASDAQ:PRTA) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.77) by $0.04. On average, equities research analysts predict that Prothena Corp. will post ($3.72) earnings per share for the current fiscal year.
In other Prothena Corp. news, Director Dennis J. Selkoe sold 5,000 shares of Prothena Corp. stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the sale, the director now owns 3,025 shares in the company, valued at $136,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Other large investors have bought and sold shares of the company. Jennison Associates LLC increased its stake in Prothena Corp. by 0.5% in the fourth quarter. Jennison Associates LLC now owns 406,677 shares of the company’s stock worth $27,699,000 after buying an additional 1,912 shares in the last quarter. Wells Fargo & Company MN increased its stake in Prothena Corp. by 2,138.8% in the fourth quarter. Wells Fargo & Company MN now owns 245,639 shares of the company’s stock worth $16,730,000 after buying an additional 234,667 shares in the last quarter. Morgan Stanley increased its stake 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. Pinnacle Associates Ltd. acquired a new stake in Prothena Corp. during the fourth quarter worth approximately $20,194,000. Finally, New York State Common Retirement Fund increased its stake 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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