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

Prothena Co. plc (NASDAQ:PRTA - Free Report) - Equities research analysts at Zacks Research lifted their Q1 2024 earnings estimates for shares of Prothena in a report released on Tuesday, April 16th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings per share of ($1.29) for the quarter, up from their prior estimate 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.

PRTA has been the topic of several other reports. Bank of America reiterated a "neutral" rating and set a $38.00 target price (down from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Prothena in a research report on Wednesday, April 10th. StockNews.com lowered shares of Prothena from a "hold" rating to a "sell" rating in a report on Monday, February 19th. Royal Bank of Canada lowered their price target on shares of Prothena from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 16th. Finally, JMP Securities raised their price target on shares of Prothena from $81.00 to $85.00 and gave the stock a "market outperform" rating in a report on Friday, February 16th. One research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.63.

Prothena Trading Down 2.0 %

NASDAQ:PRTA traded down $0.43 during mid-day trading on Thursday, hitting $20.57. 567,688 shares of the company's stock were exchanged, compared to its average volume of 774,167. The company has a 50 day simple moving average of $26.09 and a 200-day simple moving average of $33.03. Prothena has a fifty-two week low of $20.44 and a fifty-two week high of $79.65. The firm has a market capitalization of $1.11 billion, a P/E ratio of -7.35 and a beta of 0.21.

Prothena (NASDAQ:PRTA - Get Free Report) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The business had revenue of $0.32 million for the quarter, compared to analyst estimates of $2.15 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm's quarterly revenue was down 99.4% on a year-over-year basis.

Institutional Trading of Prothena

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its stake in Prothena by 0.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 40,900 shares of the biotechnology company's stock valued at $1,982,000 after purchasing an additional 181 shares in the last quarter. Royal Bank of Canada increased its stake in Prothena by 3.5% during the 3rd quarter. Royal Bank of Canada now owns 8,463 shares of the biotechnology company's stock valued at $409,000 after purchasing an additional 290 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Prothena by 3.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,908 shares of the biotechnology company's stock valued at $382,000 after purchasing an additional 295 shares in the last quarter. Credit Suisse AG increased its stake in Prothena by 1.3% during the 2nd quarter. Credit Suisse AG now owns 27,724 shares of the biotechnology company's stock valued at $753,000 after purchasing an additional 369 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Prothena by 7.1% during the 4th quarter. Amalgamated Bank now owns 6,126 shares of the biotechnology company's stock valued at $369,000 after purchasing an additional 406 shares in the last quarter. Institutional investors own 97.08% of the company's stock.

Insider Activity

In other news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $34.00, for a total value of $170,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.20% of the stock is currently owned by company 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.