Prothena (NASDAQ:PRTA) Releases Earnings Results, Beats Expectations By $0.08 EPS

Prothena (NASDAQ:PRTA) released its quarterly earnings results on Tuesday. The biotechnology company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.18) by $0.08, Briefing.com reports. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.03%. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. During the same period in the prior year, the company posted $0.38 earnings per share. Prothena’s revenue was down 98.9% compared to the same quarter last year.

Prothena Trading Down 6.6 %

NASDAQ PRTA traded down $1.13 on Thursday, hitting $16.10. 469,742 shares of the company were exchanged, compared to its average volume of 581,772. Prothena has a 12 month low of $15.30 and a 12 month high of $41.54. The company has a market cap of $865.86 million, a PE ratio of -6.49 and a beta of 0.16. The stock has a fifty day moving average of $18.32 and a 200-day moving average of $20.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PRTA shares. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $84.00 price objective on shares of Prothena in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Oppenheimer lowered their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Bank of America cut their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Prothena has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson’s disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer’s disease.