Prothena (NASDAQ:PRTA) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Prothena (NASDAQ:PRTA) issued its earnings results on Wednesday. The biotechnology company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13), Briefing.com reports. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. During the same quarter last year, the business posted ($0.89) earnings per share.

Prothena Stock Down 4.5 %

Prothena stock traded down $1.04 during trading hours on Thursday, reaching $21.99. 214,628 shares of the company’s stock were exchanged, compared to its average volume of 728,783. The firm has a market capitalization of $1.18 billion, a PE ratio of -8.23 and a beta of 0.30. The firm’s 50 day simple moving average is $24.30 and its 200 day simple moving average is $30.50. Prothena has a twelve month low of $19.65 and a twelve month high of $77.36.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRTA shares. Bank of America restated a “neutral” rating and set a $38.00 price objective (down previously from $68.00) on shares of Prothena in a research report on Tuesday, January 30th. Royal Bank of Canada cut their target price on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded shares of Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Oppenheimer reduced their price objective on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.14.

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.