Prothena (NASDAQ:PRTA) Posts Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Prothena reported a quarterly loss of $0.32 per share, missing analyst expectations by $0.09; revenue was $0.62 million versus estimates of $9.58 million.
• Insiders bought 1,017,500 shares worth about $8.65 million over the past three months. Major shareholder William P. Scully alone purchased 50,000 shares.
• Analysts’ average rating is “Moderate Buy”, with a consensus price target of $20.00.

Prothena (NASDAQ:PRTA - Get Free Report) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09), FiscalAI reports. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. The company had revenue of $0.62 million for the quarter, compared to analyst estimates of $9.58 million.

Prothena Stock Performance

PRTA traded up $0.08 on Friday, reaching $7.97. 421,781 shares of the company's stock were exchanged, compared to its average volume of 544,602. The company has a market cap of $417.23 million, a price-to-earnings ratio of -16.60, a PEG ratio of 2.92 and a beta of -0.20. Prothena has a twelve month low of $7.73 and a twelve month high of $11.80. The company's 50 day moving average is $8.65 and its 200-day moving average is $9.20.

Insider Transactions at Prothena

In related news, major shareholder William P. Scully bought 50,000 shares of the stock in a transaction dated Friday, October 23rd. The stock was acquired at an average price of $8.07 per share, for a total transaction of $403,500.00. Following the completion of the purchase, the insider owned 1,187,000 shares in the company, valued at $9,579,090. This represents a 4.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 1,017,500 shares of company stock valued at $8,654,850. 10.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PRTA shares. Weiss Ratings lowered shares of Prothena from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, October 29th. UBS Group reiterated a "buy" rating on shares of Prothena in a report on Friday, July 24th. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Prothena in a research note on Friday, July 24th. Finally, Wall Street Zen lowered Prothena from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Prothena currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

About Prothena

Prothena Corporation plc NASDAQ: PRTA is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company's product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson's disease.

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