Cantor Fitzgerald Lifts Earnings Estimates for Prothena

Prothena Co. plc (NASDAQ:PRTA) – Equities researchers at Cantor Fitzgerald boosted their FY2024 EPS estimates for shares of Prothena in a report issued on Wednesday, November 13th. Cantor Fitzgerald analyst C. Duncan now expects that the biotechnology company will earn ($2.41) per share for the year, up from their prior estimate of ($2.52). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Prothena’s current full-year earnings is ($2.29) per share.

Several other analysts have also recently commented on the stock. Bank of America decreased their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company 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. HC Wainwright reaffirmed a “buy” rating and set a $84.00 price target on shares of Prothena in a research report on Wednesday, November 13th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, 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. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Stock Up 4.0 %

Shares of NASDAQ:PRTA opened at $14.05 on Monday. The business has a 50-day moving average price of $17.92 and a 200-day moving average price of $20.20. The stock has a market cap of $756.03 million, a price-to-earnings ratio of -5.67 and a beta of 0.16. Prothena has a 52-week low of $13.22 and a 52-week high of $41.54.

Prothena (NASDAQ:PRTA) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. The company 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 24.19% and a negative net margin of 98.86%. The firm’s quarterly revenue was down 98.9% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in Prothena by 110.2% in the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after acquiring an additional 49,916 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock worth $293,000 after purchasing an additional 739 shares during the last quarter. XTX Topco Ltd purchased a new position in Prothena in the 3rd quarter valued at about $260,000. Wellington Management Group LLP lifted its stake in Prothena by 14.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock valued at $69,911,000 after buying an additional 539,359 shares in the last quarter. Finally, PDT Partners LLC increased its stake in Prothena by 7.7% during the 3rd quarter. PDT Partners LLC now owns 110,654 shares of the biotechnology company’s stock worth $1,851,000 after buying an additional 7,946 shares in the last quarter. Hedge funds and other institutional investors 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.