Prothena (NASDAQ:PRTA) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Prothena (NASDAQ:PRTA) released its quarterly earnings results on Wednesday. The biotechnology company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.13), Briefing.com reports. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $3.75 million. During the same quarter last year, the company earned ($0.89) EPS.

Prothena Price Performance

PRTA traded down $1.06 during trading hours on Thursday, reaching $21.97. The company’s stock had a trading volume of 298,368 shares, compared to its average volume of 729,653. The business’s 50-day moving average is $24.30 and its 200-day moving average is $30.50. The stock has a market cap of $1.18 billion, a PE ratio of -7.80 and a beta of 0.30. Prothena has a fifty-two week low of $19.65 and a fifty-two week high of $77.36.

Analysts Set New Price Targets

PRTA has been the subject of a number of research analyst reports. Bank of America reissued a “neutral” rating and set a $38.00 target price (down previously from $68.00) on shares of Prothena in a report on Tuesday, January 30th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. HC Wainwright decreased their price target on shares of Prothena from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday. JMP Securities dropped their price objective on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.