Prothena Co. plc to Post Q1 2024 Earnings of ($1.29) Per Share, Zacks Research Forecasts (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Research analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for Prothena in a report issued on Tuesday, April 16th. Zacks Research analyst E. Bagri now expects that the biotechnology company will earn ($1.29) per share for the quarter, up from their prior forecast of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.89) per share. Zacks Research also issued estimates for Prothena’s Q2 2024 earnings at ($1.24) EPS, Q3 2024 earnings at ($1.14) EPS, FY2024 earnings at ($4.69) EPS, Q1 2025 earnings at ($1.35) EPS, Q2 2025 earnings at ($1.23) EPS, Q3 2025 earnings at ($1.15) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($4.26) EPS, Q1 2026 earnings at ($1.67) EPS and FY2026 earnings at ($4.13) EPS.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.03). Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. The firm had revenue of $0.32 million during the quarter, compared to analyst estimates of $2.15 million. During the same period in the previous year, the company posted $0.12 earnings per share. Prothena’s revenue was down 99.4% compared to the same quarter last year.

Several other research firms have also weighed in on PRTA. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. Oppenheimer lowered their target price on Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Royal Bank of Canada lowered their target price on Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Bank of America reissued a “neutral” rating and issued a $38.00 target price (down previously from $68.00) on shares of Prothena in a report on Tuesday, January 30th. Finally, StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Prothena Stock Performance

NASDAQ:PRTA opened at $20.57 on Thursday. The stock has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $33.03. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -7.35 and a beta of 0.21. Prothena has a 1 year low of $20.44 and a 1 year high of $79.65.

Insiders Place Their Bets

In other Prothena news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 28.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Point72 Middle East FZE acquired a new position in shares of Prothena in the 4th quarter worth approximately $48,000. KBC Group NV bought a new stake in Prothena during the 4th quarter valued at $34,000. China Universal Asset Management Co. Ltd. raised its stake in Prothena by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 684 shares in the last quarter. Headlands Technologies LLC bought a new stake in Prothena during the 3rd quarter valued at $74,000. Finally, PNC Financial Services Group Inc. raised its stake in Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,122 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

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.