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

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

Prothena Trading Down 0.7 %

PRTA stock opened at $17.23 on Thursday. Prothena has a 12 month low of $15.30 and a 12 month high of $41.54. The company has a market cap of $926.63 million, a price-to-earnings ratio of -6.95 and a beta of 0.16. The firm has a 50-day moving average of $18.41 and a two-hundred day moving average of $20.41.

Analysts Set New Price Targets

Several research analysts recently commented on PRTA shares. StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Royal Bank of Canada reduced their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $84.00 target price on shares of Prothena in a research note on Wednesday. Oppenheimer dropped their price target on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Bank of America reduced their price target on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company 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’s stock. Based on data from MarketBeat, Prothena currently 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.