HC Wainwright Issues Negative Estimate for Prothena Earnings

Prothena Co. plc (NASDAQ:PRTA - Free Report) - Research analysts at HC Wainwright decreased their FY2027 earnings per share estimates for shares of Prothena in a report issued on Tuesday, May 27th. HC Wainwright analyst A. Fein now forecasts that the biotechnology company will post earnings per share of ($5.44) for the year, down from their previous forecast of ($4.70). HC Wainwright currently has a "Buy" rating and a $14.00 target price on the stock. The consensus estimate for Prothena's current full-year earnings is ($4.04) per share. HC Wainwright also issued estimates for Prothena's FY2028 earnings at ($2.73) EPS and FY2029 earnings at ($3.56) EPS.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.20). The company had revenue of $2.83 million for the quarter, compared to analysts' expectations of $8.18 million. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business's quarterly revenue was up 5500.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.34) EPS.

Other equities analysts also recently issued research reports about the company. Chardan Capital dropped their price objective on Prothena from $40.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. JMP Securities lowered their target price on Prothena from $78.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 27th. Piper Sandler cut their price target on Prothena from $110.00 to $81.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Wall Street Zen raised Prothena from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Finally, Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $31.50.

Prothena Price Performance

Shares of Prothena stock traded up $0.05 on Thursday, reaching $4.64. 886,770 shares of the company traded hands, compared to its average volume of 688,187. The company has a 50 day moving average of $8.88 and a 200 day moving average of $12.42. Prothena has a 52 week low of $4.32 and a 52 week high of $25.42. The firm has a market capitalization of $249.92 million, a PE ratio of -2.01 and a beta of 0.11.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC grew its holdings in Prothena by 19.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company's stock valued at $71,000 after buying an additional 833 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Prothena by 4,626.0% in the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after acquiring an additional 5,875 shares during the period. Headlands Technologies LLC grew its stake in Prothena by 196.5% during the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company's stock valued at $102,000 after acquiring an additional 4,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Prothena during the 1st quarter worth approximately $126,000. Finally, Teacher Retirement System of Texas bought a new stake in Prothena during the 4th quarter worth approximately $145,000. 97.08% of the stock is currently owned by institutional investors.

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.