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

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

Prothena Trading Down 4.6 %

PRTA traded down $1.06 on Thursday, reaching $21.97. The stock had a trading volume of 298,368 shares, compared to its average volume of 729,653. The firm has a 50-day moving average of $24.30 and a 200-day moving average of $30.50. Prothena has a fifty-two week low of $19.65 and a fifty-two week high of $77.36. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.80 and a beta of 0.30.

Wall Street Analyst Weigh In

Several research firms recently commented on PRTA. Royal Bank of Canada decreased their price target on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. JMP Securities decreased their target price on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Bank of America restated a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.