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

Prothena Co. plc (NASDAQ:PRTA) – Analysts at Zacks Research boosted their Q1 2024 earnings estimates for Prothena in a report issued 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 prior forecast of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.89) 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.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) EPS 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 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 quarterly revenue was down 99.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.

Other equities analysts have also issued research reports about the stock. JMP Securities increased 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. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Prothena in a research report on Wednesday, March 13th. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Prothena Price Performance

Shares of NASDAQ PRTA opened at $20.57 on Thursday. The stock has a market cap of $1.11 billion, a PE ratio of -7.35 and a beta of 0.21. The firm has a fifty day moving average price of $26.09 and a 200-day moving average price of $33.03. Prothena has a 1 year low of $20.44 and a 1 year high of $79.65.

Insider Activity

In other Prothena news, CAO Karin L. Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 is available at this hyperlink. Insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On Prothena

A number of institutional investors have recently modified their holdings of PRTA. PNC Financial Services Group Inc. boosted its position in shares of Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares in the last quarter. Vanguard Group Inc. raised its stake in Prothena by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 1,070,555 shares of the biotechnology company’s stock valued at $38,904,000 after purchasing an additional 39,781 shares during the last quarter. Wellington Management Group LLP raised its stake 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 valued at $94,270,000 after purchasing an additional 452,455 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Prothena by 33.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 333,786 shares of the biotechnology company’s stock valued at $12,130,000 after purchasing an additional 83,463 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake 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 valued at $153,986,000 after purchasing an additional 417,338 shares during the last quarter. 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.