Prothena (NASDAQ:PRTA) Releases Quarterly Earnings Results

Prothena (NASDAQ:PRTA) posted its quarterly earnings data on Tuesday. The biotechnology company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.08, Briefing.com reports. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.03%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same period in the prior year, the business earned $0.38 earnings per share. Prothena’s revenue for the quarter was down 98.9% compared to the same quarter last year.

Prothena Stock Performance

Shares of Prothena stock traded down $0.27 during midday trading on Thursday, reaching $16.96. 86,222 shares of the company’s stock traded hands, compared to its average volume of 580,036. The company has a market cap of $912.11 million, a PE ratio of -6.95 and a beta of 0.16. The stock has a 50 day moving average of $18.41 and a 200-day moving average of $20.41. Prothena has a 12 month low of $15.30 and a 12 month high of $41.54.

Analyst Upgrades and Downgrades

PRTA has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $84.00 price target on shares of Prothena in a report on Wednesday. Bank of America dropped their price target on Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Finally, Oppenheimer lowered their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Prothena has an average rating of “Moderate Buy” and a consensus price target of $61.86.

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.