Prothena (NASDAQ:PRTA) Issues Earnings Results, Misses Expectations By $0.13 EPS

Prothena (NASDAQ:PRTA) released its quarterly earnings data on Wednesday. The biotechnology company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13), Briefing.com reports. The company 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 period last year, the firm earned ($0.89) earnings per share.

Prothena Stock Down 5.0 %

Shares of NASDAQ PRTA traded down $1.14 on Thursday, reaching $21.89. 262,197 shares of the company’s stock traded hands, compared to its average volume of 729,268. Prothena has a 12 month low of $19.65 and a 12 month high of $77.36. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -7.85 and a beta of 0.30. The business’s 50 day simple moving average is $24.30 and its two-hundred day simple moving average is $30.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRTA shares. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. JMP Securities raised their price objective on shares of Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. Bank of America reiterated a “neutral” rating and issued a $38.00 target price (down from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. Finally, Oppenheimer dropped their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.