Prothena (NASDAQ:PRTA) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Prothena (NASDAQ:PRTA) issued its earnings results on Tuesday. The biotechnology company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08, Briefing.com reports. The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.22 million. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The firm’s revenue was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS.

Prothena Stock Down 4.0 %

Prothena stock opened at $17.36 on Wednesday. The stock has a market cap of $933.62 million, a price-to-earnings ratio of -17.36 and a beta of 0.16. The business has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $20.44. Prothena has a 52 week low of $15.30 and a 52 week high of $41.54.

Analysts Set New Price Targets

Several research firms have recently commented on PRTA. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Prothena in a research note on Tuesday, October 1st. Oppenheimer decreased their target price on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada dropped their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America dropped their target price on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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.