Prothena (NASDAQ:PRTA) Releases Quarterly Earnings Results, Misses Estimates By $0.75 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) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.75), Zacks reports. Prothena had a negative return on equity of 62.17% and a negative net margin of 2,929.30%. The firm had revenue of $4.42 million during the quarter, compared to analyst estimates of $5.36 million.

Prothena Trading Up 2.2%

PRTA stock traded up $0.17 on Friday, hitting $7.89. 209,310 shares of the company's stock traded hands, compared to its average volume of 1,059,315. Prothena has a 1-year low of $4.32 and a 1-year high of $23.66. The stock has a market cap of $424.61 million, a price-to-earnings ratio of -1.40 and a beta of -0.03. The stock has a fifty day moving average of $6.13 and a 200-day moving average of $9.71.

Institutional Investors Weigh In On Prothena

A hedge fund recently bought a new stake in Prothena stock. Jacobs Levy Equity Management Inc. acquired a new stake in Prothena Corporation plc (NASDAQ:PRTA - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,553 shares of the biotechnology company's stock, valued at approximately $230,000. Hedge funds and other institutional investors own 97.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRTA. Jefferies Financial Group lowered shares of Prothena from a "buy" rating to a "hold" rating and set a $6.00 price objective on the stock. in a report on Tuesday, May 27th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Prothena in a report on Tuesday. JMP Securities dropped their target price on shares of Prothena from $78.00 to $29.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 27th. Cantor Fitzgerald reissued a "neutral" rating on shares of Prothena in a research report on Friday, June 20th. Finally, Oppenheimer downgraded shares of Prothena from an "outperform" rating to a "market perform" rating in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, Prothena has an average rating of "Hold" and a consensus target price of $30.25.

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.