Prothena (NASDAQ:PRTA) Announces Earnings Results, Beats Estimates By $0.08 EPS

Prothena (NASDAQ:PRTA) released its earnings results on Tuesday. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08, Briefing.com reports. The firm had revenue of $0.97 million for 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%. Prothena’s revenue was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share.

Prothena Stock Performance

Shares of NASDAQ PRTA opened at $17.36 on Wednesday. Prothena has a one year low of $15.30 and a one year high of $41.54. The business has a 50-day moving average price of $18.48 and a two-hundred day moving average price of $20.44.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PRTA shares. Oppenheimer dropped their price target on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $84.00 price target on shares of Prothena in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

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.