Prothena (NASDAQ:PRTA) Announces Earnings Results

Prothena (NASDAQ:PRTA) released its earnings results on Thursday. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.07), Zacks reports. The firm had revenue of $2.42 million during the quarter, compared to analyst estimates of $6.64 million. Prothena had a negative net margin of 2,929.30% and a negative return on equity of 62.17%.

Prothena Stock Performance

Shares of PRTA traded up $0.48 during mid-day trading on Friday, reaching $10.56. The company had a trading volume of 928,366 shares, compared to its average volume of 981,456. The company’s 50 day simple moving average is $9.49 and its 200 day simple moving average is $7.82. The company has a market capitalization of $568.44 million, a price-to-earnings ratio of -1.87 and a beta of -0.09. Prothena has a 1-year low of $4.32 and a 1-year high of $18.60.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group set a $36.00 price target on Prothena in a research note on Tuesday, October 28th. HC Wainwright increased their target price on Prothena from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prothena in a research report on Wednesday. Piper Sandler boosted their target price on Prothena from $15.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Royal Bank Of Canada increased their price objective on shares of Prothena from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.78.

Institutional Trading of Prothena

A number of hedge funds have recently made changes to their positions in PRTA. Tower Research Capital LLC TRC increased its position in Prothena by 571.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 10,815 shares during the period. Voleon Capital Management LP bought a new stake in shares of Prothena during the second quarter worth about $113,000. Jacobs Levy Equity Management Inc. bought a new position in Prothena during the 1st quarter valued at $230,000. Nebula Research & Development LLC purchased a new position in shares of Prothena in the 2nd quarter worth approximately $139,000. Finally, American Century Companies Inc. grew its position in Prothena by 72.1% during the second quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 25,129 shares during the period. 97.08% of the stock is owned by institutional investors and hedge funds.

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.