Analysts Offer Predictions for Prothena Co. plc's Q1 2024 Earnings (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA - Free Report) - Stock analysts at Leerink Partnrs lowered their Q1 2024 earnings per share (EPS) estimates for Prothena in a report released on Tuesday, April 9th. Leerink Partnrs analyst R. Li now expects that the biotechnology company will earn ($1.14) per share for the quarter, down from their previous estimate of ($1.11). The consensus estimate for Prothena's current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for Prothena's Q2 2024 earnings at ($1.17) EPS, Q3 2024 earnings at ($1.24) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($4.90) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($5.00) EPS, FY2027 earnings at ($4.85) EPS and FY2028 earnings at $5.85 EPS.

Prothena (NASDAQ:PRTA - Get Free Report) last released its quarterly 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 analyst estimates of $2.15 million. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The company's revenue for the quarter was down 99.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS.

A number of other equities research analysts have also commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Prothena in a research report on Wednesday, March 13th. Royal Bank of Canada decreased their price target on Prothena from $36.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, February 16th. StockNews.com downgraded Prothena from a "hold" rating to a "sell" rating in a research note on Monday, February 19th. Oppenheimer decreased their price target on Prothena from $98.00 to $80.00 and set an "outperform" rating for the company in a research note on Tuesday, February 20th. Finally, Bank of America restated a "neutral" rating and issued a $38.00 price target (down from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.63.

Prothena Trading Down 4.5 %

Shares of NASDAQ PRTA traded down $1.04 during mid-day trading on Friday, reaching $22.24. 526,230 shares of the company's stock were exchanged, compared to its average volume of 789,000. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.94 and a beta of 0.21. The business has a fifty day simple moving average of $26.50 and a 200 day simple moving average of $33.78. Prothena has a twelve month low of $21.90 and a twelve month high of $79.65.

Institutional Trading of Prothena

Several hedge funds have recently added to or reduced their stakes in PRTA. Bank of New York Mellon Corp lifted its holdings in Prothena by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 154,281 shares of the biotechnology company's stock worth $5,642,000 after purchasing an additional 1,821 shares during the last quarter. HighTower Advisors LLC acquired a new position in Prothena in the 1st quarter valued at $286,000. Dimensional Fund Advisors LP raised its holdings in Prothena by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,505,156 shares of the biotechnology company's stock valued at $55,044,000 after acquiring an additional 6,619 shares in the last quarter. First Light Asset Management LLC raised its holdings in Prothena by 13.3% in the 1st quarter. First Light Asset Management LLC now owns 1,838,548 shares of the biotechnology company's stock valued at $67,236,000 after acquiring an additional 215,607 shares in the last quarter. Finally, Mariner LLC raised its holdings in Prothena by 430.0% in the 1st quarter. Mariner LLC now owns 74,130 shares of the biotechnology company's stock valued at $2,711,000 after acquiring an additional 60,144 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction that occurred on Wednesday, January 24th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 28.20% of the stock is currently owned by 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.