Prothena (NASDAQ:PRTA) Announces Earnings Results

Prothena (NASDAQ:PRTA - Get Free Report) issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.20), Zacks reports. Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The company had revenue of $2.83 million during the quarter, compared to analyst estimates of $8.18 million. During the same period in the previous year, the company posted ($1.34) EPS. The company's quarterly revenue was up 5500.0% on a year-over-year basis.

Prothena Price Performance

NASDAQ:PRTA traded down $0.30 during trading hours on Thursday, reaching $6.60. 476,545 shares of the company were exchanged, compared to its average volume of 580,190. The stock has a 50 day simple moving average of $10.63 and a 200 day simple moving average of $13.42. Prothena has a 52-week low of $6.48 and a 52-week high of $25.42. The firm has a market cap of $354.99 million, a price-to-earnings ratio of -2.87 and a beta of 0.11.

Wall Street Analysts Forecast Growth

PRTA has been the subject of a number of research analyst reports. Chardan Capital reaffirmed a "buy" rating and set a $40.00 price target on shares of Prothena in a research report on Friday, May 9th. Piper Sandler boosted their price target on Prothena from $94.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Prothena from $58.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. JMP Securities cut their price target on Prothena from $80.00 to $78.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Finally, Cantor Fitzgerald upgraded Prothena to a "strong-buy" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $51.71.

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.