FY2029 EPS Estimates for Prothena Boosted by HC Wainwright

Key Points

• HC Wainwright has increased its FY2029 EPS estimate for Prothena to ($3.09) from ($3.34), maintaining a "Buy" rating with a price target of $20.00.
• Prothena reported ($1.86) EPS in its latest quarter, falling short of the consensus estimate of ($1.11), with revenues of $4.42 million compared to expected $5.36 million.
• Prothena's stock has a market capitalization of $557.14 million and is currently trading around $10.35, showcasing significant volatility with a 1-year low of $4.32 and a high of $18.88.

Prothena Corporation plc (NASDAQ:PRTA - Free Report) - HC Wainwright upped their FY2029 EPS estimates for Prothena in a note issued to investors on Tuesday, October 7th. HC Wainwright analyst A. Fein now anticipates that the biotechnology company will post earnings of ($3.09) per share for the year, up from their previous estimate of ($3.34). HC Wainwright has a "Buy" rating and a $20.00 price objective on the stock. The consensus estimate for Prothena's current full-year earnings is ($4.04) per share.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.75). The firm had revenue of $4.42 million for the quarter, compared to analysts' expectations of $5.36 million. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%.

PRTA has been the topic of several other research reports. Piper Sandler cut their target price on Prothena from $81.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday, August 28th. JMP Securities cut their target price on Prothena from $29.00 to $11.00 and set a "market outperform" rating on the stock in a research report on Tuesday, September 2nd. Chardan Capital reaffirmed a "buy" rating and set a $18.00 price target on shares of Prothena in a research report on Thursday, August 28th. Cantor Fitzgerald restated a "neutral" rating on shares of Prothena in a research note on Friday, June 20th. Finally, Royal Bank Of Canada dropped their price target on Prothena from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.50.

Prothena Stock Performance

Prothena stock opened at $10.35 on Thursday. The company has a market capitalization of $557.14 million, a price-to-earnings ratio of -1.84 and a beta of -0.11. The company's 50 day simple moving average is $8.47 and its 200-day simple moving average is $7.95. Prothena has a 1 year low of $4.32 and a 1 year high of $18.88.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc purchased a new position in Prothena during the second quarter valued at approximately $61,000. GAMMA Investing LLC lifted its holdings in Prothena by 4,626.0% during the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company's stock valued at $74,000 after purchasing an additional 5,875 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Prothena by 571.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,709 shares of the biotechnology company's stock valued at $77,000 after buying an additional 10,815 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Prothena during the second quarter worth $85,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Prothena during the second quarter worth approximately $101,000. Institutional investors and hedge funds own 97.08% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.