Prothena Co. plc (NASDAQ:PRTA) Forecasted to Post Q1 2024 Earnings of ($1.14) Per Share

Prothena Co. plc (NASDAQ:PRTA) – Research analysts at Leerink Partnrs cut their Q1 2024 earnings per share (EPS) estimates for shares of Prothena in a research report issued to clients and investors on Tuesday, April 9th. Leerink Partnrs analyst R. Li now forecasts that the biotechnology company will post earnings of ($1.14) per share for the quarter, down from their prior estimate of ($1.11). The consensus estimate for Prothena’s current full-year earnings is ($4.89) per share. Leerink Partnrs also issued estimates for Prothena’s Q2 2024 earnings at ($1.17) EPS, Q3 2024 earnings at ($1.24) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($4.90) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($5.00) EPS, FY2027 earnings at ($4.85) EPS and FY2028 earnings at $5.85 EPS.

Prothena (NASDAQ:PRTA) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $2.15 million. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The firm’s revenue was down 99.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share.

A number of other research analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Prothena in a report on Wednesday, March 13th. Royal Bank of Canada decreased their price objective on Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Oppenheimer decreased their price objective on Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Prothena Trading Down 4.5 %

PRTA stock opened at $22.24 on Friday. The firm has a market capitalization of $1.19 billion, a PE ratio of -7.94 and a beta of 0.21. Prothena has a 1-year low of $21.90 and a 1-year high of $79.65. The business’s 50 day simple moving average is $26.50 and its 200 day simple moving average is $33.68.

Institutional Trading of Prothena

A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Prothena by 1.5% during the 3rd quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock worth $387,461,000 after buying an additional 117,524 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Prothena by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after purchasing an additional 417,338 shares in the last quarter. BlackRock Inc. increased its holdings in Prothena by 4.0% in the 1st quarter. BlackRock Inc. now owns 3,624,627 shares of the biotechnology company’s stock worth $175,686,000 after purchasing an additional 139,559 shares in the last quarter. Wellington Management Group LLP increased its holdings in Prothena by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock worth $94,270,000 after purchasing an additional 452,455 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Prothena by 20.0% in the first quarter. State Street Corp now owns 2,367,583 shares of the biotechnology company’s stock valued at $86,583,000 after buying an additional 394,633 shares during the period. 97.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Karin L. Walker sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 28.20% of the company’s stock.

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.