Prothena (NASDAQ:PRTA) Announces Earnings Results, Misses Expectations By $0.80 EPS

Key Points

• Prothena reported a quarterly loss of ($1.86) earnings per share (EPS), missing analysts' expectations by ($0.80).
• The company has a negative return on equity of 21.61% and a negative net margin of 79.94%.
• Recent analyst ratings show a decrease in price targets, with Chardan Capital lowering its target from $40.00 to $18.00 while maintaining a "buy" rating.

Prothena (NASDAQ:PRTA - Get Free Report) issued its quarterly earnings data on Monday. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.80), Zacks reports. Prothena had a negative return on equity of 21.61% and a negative net margin of 79.94%.

Prothena Stock Performance

Shares of PRTA traded up $0.13 during trading hours on Monday, reaching $6.94. 957,382 shares of the company traded hands, compared to its average volume of 1,047,476. The stock's fifty day moving average is $5.95 and its 200 day moving average is $9.84. The stock has a market cap of $373.58 million, a P/E ratio of -3.34 and a beta of -0.03. Prothena has a 1-year low of $4.32 and a 1-year high of $23.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Chardan Capital decreased their price objective on shares of Prothena from $40.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. JMP Securities decreased their price objective on shares of Prothena from $78.00 to $29.00 and set a "market outperform" rating for the company in a report on Tuesday, May 27th. Piper Sandler decreased their price target on shares of Prothena from $110.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. HC Wainwright decreased their price target on shares of Prothena from $30.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Finally, Jefferies Financial Group cut shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price target for the company. in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $31.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Prothena stock. Jacobs Levy Equity Management Inc. purchased a new position in Prothena Corporation plc (NASDAQ:PRTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,553 shares of the biotechnology company's stock, valued at approximately $230,000. 97.08% of the stock is currently owned by hedge funds and other institutional investors.

About Prothena

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.

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