Prothena Corporation plc [NASDAQ: PRTA] traded at a high on 03/24/21, posting a 16.84 gain after which it closed the day’ session at $25.40. The company report on March 24, 2021 that Prothena Announces Pricing of Public Offering of 3,500,000 Ordinary Shares.
Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical company with expertise in protein dysregulation and a pipeline of investigational therapeutics for rare peripheral amyloid and neurodegenerative diseases, announced that it priced an underwritten public offering of 3,500,000 of its ordinary shares at a price to the public of $20.75 per ordinary share, before the underwriting discount and estimated offering expenses. All of the ordinary shares in the offering were sold by Prothena. In addition, Prothena has granted the underwriters a 30-day option to purchase up to an additional 525,000 of its ordinary shares.
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Net proceeds to Prothena from the ordinary shares to be sold by Prothena in the offering are expected to be $67.8 million, after deducting the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriters’ option to purchase additional ordinary shares. The offering is expected to close on March 26, 2021, subject to customary closing conditions.
The results of the trading session contributed to over 1338987 shares changing hands. Over the past one week, the price volatility of Prothena Corporation plc stands at 9.16% while the volatility over the past one month is 7.52%.
The market cap for PRTA stock reached $996.44 million, with 39.92 million shares outstanding and 39.90 million shares in the current float. Compared to the average trading volume of 434.23K shares, PRTA reached a trading volume of 1338987 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Prothena Corporation plc [PRTA]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRTA shares is $29.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRTA stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Prothena Corporation plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 26, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price from $15 to $30. The new note on the price target was released on February 12, 2021, representing the official price target for Prothena Corporation plc stock. Previously, the target price had yet another raise to $29, while BTIG Research analysts kept a Buy rating on PRTA stock.
The Average True Range (ATR) for Prothena Corporation plc is set at 2.05, with the Price to Sales ratio for PRTA stock in the period of the last 12 months amounting to 1107.16. The Price to Book ratio for the last quarter was 5.51, with the Price to Cash per share for the same quarter was set at 7.53.
How has PRTA stock performed recently?
Prothena Corporation plc [PRTA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.46. With this latest performance, PRTA shares gained by 20.32% in over the last four-week period, additionally plugging by 146.60% over the last 6 months – not to mention a rise of 171.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRTA stock in for the last two-week period is set at 61.28, with the RSI for the last a single of trading hit 60.66, and the three-weeks RSI is set at 61.95 for Prothena Corporation plc [PRTA]. The present Moving Average for the last 50 days of trading for this stock 18.89, while it was recorded at 23.99 for the last single week of trading, and 13.55 for the last 200 days.
Prothena Corporation plc [PRTA]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Prothena Corporation plc [PRTA] shares currently have an operating margin of -13216.18. Prothena Corporation plc’s Net Margin is presently recorded at -13029.78.
Return on Total Capital for PRTA is now -45.30, given the latest momentum, and Return on Invested Capital for the company is -45.64. Return on Equity for this stock declined to -48.65, with Return on Assets sitting at -29.55. When it comes to the capital structure of this company, Prothena Corporation plc [PRTA] has a Total Debt to Total Equity ratio set at 9.69. Additionally, PRTA Total Debt to Total Capital is recorded at 8.84, with Total Debt to Total Assets ending up at 5.36. Long-Term Debt to Equity for the company is recorded at 6.70, with the Long-Term Debt to Total Capital now at 6.11.
Reflecting on the efficiency of the workforce at the company, Prothena Corporation plc [PRTA] managed to generate an average of -$1,684,000 per employee. Receivables Turnover for the company is 20.55 with a Total Asset Turnover recorded at a value of 0.00.Prothena Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.60 and a Current Ratio set at 11.60.
Earnings analysis for Prothena Corporation plc [PRTA]
With the latest financial reports released by the company, Prothena Corporation plc posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.57/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Prothena Corporation plc go to -8.40%.
Insider trade positions for Prothena Corporation plc [PRTA]
There are presently around $885 million, or 91.00% of PRTA stock, in the hands of institutional investors. The top three institutional holders of PRTA stocks are: ECOR1 CAPITAL, LLC with ownership of 9,426,640, which is approximately 0% of the company’s market cap and around 0.05% of the total institutional ownership; BLACKROCK INC., holding 3,692,970 shares of the stock with an approximate value of $93.8 million in PRTA stocks shares; and FIRST LIGHT ASSET MANAGEMENT, LLC, currently with $52.23 million in PRTA stock with ownership of nearly New of the company’s market capitalization.
Positions in Prothena Corporation plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 51 institutional holders increased their position in Prothena Corporation plc [NASDAQ:PRTA] by around 5,019,223 shares. Additionally, 75 investors decreased positions by around 6,323,165 shares, while 33 investors held positions by with 23,502,288 shares. The mentioned changes placed institutional holdings at 34,844,676 shares, according to the latest SEC report filing. PRTA stock had 27 new institutional investments in for a total of 3,772,567 shares, while 24 institutional investors sold positions of 1,307,647 shares during the same period.