Prothena (NASDAQ:PRTA) Announces Earnings Results, Misses Estimates By $0.13 EPS

Prothena (NASDAQ:PRTA) released its earnings results on Wednesday. The biotechnology company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.13), Briefing.com reports. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $3.75 million. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. During the same period in the prior year, the firm earned ($0.89) earnings per share.

Prothena Trading Down 5.0 %

NASDAQ PRTA traded down $1.14 on Thursday, hitting $21.89. 262,197 shares of the stock traded hands, compared to its average volume of 729,268. The company has a market capitalization of $1.18 billion, a P/E ratio of -7.85 and a beta of 0.30. The stock has a 50-day moving average of $24.30 and a 200 day moving average of $30.50. Prothena has a twelve month low of $19.65 and a twelve month high of $77.36.

Analysts Set New Price Targets

PRTA has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and set a $38.00 price target (down from $68.00) on shares of Prothena in a report on Tuesday, January 30th. StockNews.com downgraded Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. Oppenheimer lowered their price target on Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Finally, HC Wainwright decreased their price objective on Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.29.

About Prothena

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.