HC Wainwright Issues Negative Outlook for Prothena Earnings

Prothena Co. plc (NASDAQ:PRTA) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for Prothena in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Fein now anticipates that the biotechnology company will earn ($2.26) per share for the year, down from their previous estimate of ($2.23). HC Wainwright has a “Buy” rating and a $84.00 price objective on the stock. The consensus estimate for Prothena’s current full-year earnings is ($2.29) per share. HC Wainwright also issued estimates for Prothena’s FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.07) EPS and FY2027 earnings at ($1.15) EPS.

A number of other research firms also recently weighed in on PRTA. Bank of America reduced their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Monday, September 30th. Royal Bank of Canada lowered their target price on Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Oppenheimer decreased their price objective on Prothena from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Prothena presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Trading Down 3.6 %

Shares of PRTA opened at $13.51 on Monday. The stock has a 50 day moving average of $18.05 and a 200 day moving average of $20.27. The company has a market capitalization of $726.97 million, a price-to-earnings ratio of -5.45 and a beta of 0.16. Prothena has a 12 month low of $13.45 and a 12 month high of $41.54.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. Prothena’s revenue was down 98.9% compared to the same quarter last year.

Institutional Trading of Prothena

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DCF Advisers LLC boosted its stake in Prothena by 0.5% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock worth $2,219,000 after purchasing an additional 500 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Prothena by 4.4% in the third quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after buying an additional 739 shares in the last quarter. Signaturefd LLC boosted its position in shares of Prothena by 182.1% in the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 863 shares during the period. ProShare Advisors LLC grew its stake in Prothena by 8.9% during the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 932 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after purchasing an additional 1,186 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors.

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.