Zacks Research Forecasts Stronger Earnings for Prothena

Prothena Co. plc (NASDAQ:PRTA) – Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Prothena in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst E. Bagri now expects that the biotechnology company will post earnings per share of ($2.36) for the year, up from their prior forecast of ($2.47). The consensus estimate for Prothena’s current full-year earnings is ($2.25) per share. Zacks Research also issued estimates for Prothena’s Q1 2025 earnings at ($1.33) EPS, Q2 2025 earnings at ($1.38) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at $0.78 EPS, FY2025 earnings at ($3.25) EPS, Q1 2026 earnings at ($1.42) EPS, Q2 2026 earnings at ($1.14) EPS, Q3 2026 earnings at ($0.20) EPS and FY2026 earnings at ($3.11) EPS.

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

Several other equities analysts also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Oppenheimer decreased their price objective on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Bank of America dropped their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and issued a $84.00 price target on shares of Prothena in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Prothena Trading Up 0.9 %

Shares of Prothena stock opened at $14.05 on Friday. Prothena has a twelve month low of $13.22 and a twelve month high of $41.54. The firm’s 50-day moving average price is $16.25 and its 200 day moving average price is $19.56. The firm has a market capitalization of $756.03 million, a PE ratio of -5.67 and a beta of 0.09.

Institutional Trading of Prothena

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Prothena by 14.8% during 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prothena by 1,122.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock valued at $8,812,000 after purchasing an additional 483,673 shares during the period. Armistice Capital LLC lifted its stake in shares of Prothena by 42.3% in the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after purchasing an additional 464,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after purchasing an additional 54,728 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Prothena by 110.2% during the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.