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

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

Prothena Stock Performance

Shares of PRTA stock opened at $17.23 on Thursday. The firm has a market capitalization of $926.63 million, a P/E ratio of -6.95 and a beta of 0.16. Prothena has a 52-week low of $15.30 and a 52-week high of $41.54. The stock has a 50 day moving average price of $18.41 and a 200 day moving average price of $20.41.

Wall Street Analyst Weigh In

PRTA has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Royal Bank of Canada decreased their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $84.00 target price on shares of Prothena in a report on Wednesday. Bank of America reduced their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, Oppenheimer lowered their price objective on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

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.