Prothena Co. plc to Post Q1 2024 Earnings of ($1.29) Per Share, Zacks Research Forecasts (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Research analysts at Zacks Research increased their Q1 2024 earnings estimates for shares of Prothena in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst E. Bagri now expects that the biotechnology company will earn ($1.29) per share for the quarter, up from their previous forecast of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.88) per share. Zacks Research also issued estimates for Prothena’s Q2 2024 earnings at ($1.24) EPS, Q3 2024 earnings at ($1.14) EPS, FY2024 earnings at ($4.69) EPS, Q1 2025 earnings at ($1.35) EPS, Q2 2025 earnings at ($1.23) EPS, Q3 2025 earnings at ($1.15) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($4.26) EPS, Q1 2026 earnings at ($1.67) EPS and FY2026 earnings at ($4.13) EPS.

A number of other equities analysts also recently commented on the stock. Bank of America restated a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Prothena in a report on Wednesday, March 13th. Royal Bank of Canada cut their price target on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Finally, JMP Securities increased their price target on shares of Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Prothena Stock Performance

Shares of Prothena stock opened at $21.16 on Thursday. The company has a market cap of $1.14 billion, a P/E ratio of -7.56 and a beta of 0.21. Prothena has a one year low of $20.42 and a one year high of $79.65. The firm has a fifty day moving average of $25.94 and a two-hundred day moving average of $32.86.

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

Institutional Investors Weigh In On Prothena

Several hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in shares of Prothena by 1.5% in the third quarter. FMR LLC now owns 8,030,290 shares of the biotechnology company’s stock worth $387,461,000 after acquiring an additional 117,524 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Prothena by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,237,351 shares of the biotechnology company’s stock worth $153,986,000 after acquiring an additional 417,338 shares during the last quarter. BlackRock Inc. boosted its position in shares of Prothena by 4.0% in the first quarter. BlackRock Inc. now owns 3,624,627 shares of the biotechnology company’s stock worth $175,686,000 after acquiring an additional 139,559 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Prothena by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 2,594,102 shares of the biotechnology company’s stock worth $94,270,000 after acquiring an additional 452,455 shares during the last quarter. Finally, State Street Corp boosted its position 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 worth $86,583,000 after acquiring an additional 394,633 shares during the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prothena

In other Prothena news, CAO Karin L. Walker sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.20% of the stock is owned by corporate insiders.

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.