Prothena (NASDAQ:PRTA) Announces Quarterly Earnings Results

Prothena (NASDAQ:PRTA) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09), FiscalAI reports. Prothena had a negative return on equity of 16.45% and a negative net margin of 80.68%. The company had revenue of $0.62 million for the quarter, compared to analyst estimates of $9.58 million.

Prothena Stock Up 1.0%

PRTA stock traded up $0.08 during trading on Friday, reaching $7.97. The stock had a trading volume of 421,781 shares, compared to its average volume of 544,602. The company has a market capitalization of $417.23 million, a price-to-earnings ratio of -16.60, a P/E/G ratio of 2.92 and a beta of -0.20. The company’s 50 day moving average is $8.65 and its two-hundred day moving average is $9.20. Prothena has a one year low of $7.73 and a one year high of $11.80.

Insider Activity at Prothena

In other Prothena news, major shareholder William P. Scully bought 162,000 shares of Prothena stock in a transaction dated Tuesday, September 29th. The stock was purchased at an average price of $8.68 per share, for a total transaction of $1,406,160.00. Following the completion of the purchase, the insider directly owned 214,000 shares of the company’s stock, valued at approximately $1,857,520. This trade represents a 311.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 1,017,500 shares of company stock worth $8,654,850. 10.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRTA. Wall Street Zen downgraded Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Prothena in a research report on Friday, July 24th. Weiss Ratings cut shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 29th. Finally, UBS Group reissued a “buy” rating on shares of Prothena in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

About Prothena

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company’s product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson’s disease.