Prothena (NASDAQ:PRTA) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Prothena (NASDAQ:PRTA) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05, FiscalAI reports. Prothena had a negative return on equity of 65.89% and a negative net margin of 2,379.59%.The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.67 million.

Prothena Price Performance

Shares of NASDAQ:PRTA traded down $0.06 on Thursday, reaching $9.03. 332,866 shares of the company traded hands, compared to its average volume of 457,642. The stock has a market capitalization of $486.08 million, a PE ratio of -1.73, a P/E/G ratio of 1.89 and a beta of -0.11. The company’s 50 day moving average is $9.31 and its 200-day moving average is $9.39. Prothena has a fifty-two week low of $4.32 and a fifty-two week high of $16.67.

Institutional Trading of Prothena

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Prothena in the 1st quarter valued at approximately $230,000. Creative Planning grew its position in Prothena by 373.0% during the 2nd quarter. Creative Planning now owns 50,569 shares of the biotechnology company’s stock worth $307,000 after purchasing an additional 39,879 shares in the last quarter. American Century Companies Inc. raised its stake in Prothena by 72.1% during the 2nd quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company’s stock valued at $364,000 after purchasing an additional 25,129 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Prothena by 7,956.6% in the second quarter. Russell Investments Group Ltd. now owns 96,196 shares of the biotechnology company’s stock valued at $584,000 after purchasing an additional 95,002 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Prothena by 251.8% in the second quarter. Hsbc Holdings PLC now owns 46,047 shares of the biotechnology company’s stock worth $282,000 after buying an additional 32,959 shares during the period. Institutional investors and hedge funds own 97.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group set a $36.00 price target on Prothena in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup restated a “market outperform” rating on shares of Prothena in a research report on Monday, December 1st. Chardan Capital upgraded shares of Prothena to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, Citizens Jmp set a $19.00 price objective on shares of Prothena in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.88.

Prothena Company Profile

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.