Zacks Research Brokers Increase Earnings Estimates for Prothena Co. plc (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Analysts at Zacks Research upped their Q1 2024 earnings estimates for Prothena in a report released on Tuesday, April 16th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings of ($1.29) per share for the quarter, up from their previous forecast of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.89) per share. Zacks Research also issued estimates for Prothena’s Q2 2024 earnings at ($1.24) EPS, Q3 2024 earnings at ($1.14) EPS, FY2024 earnings at ($4.69) EPS, Q1 2025 earnings at ($1.35) EPS, Q2 2025 earnings at ($1.23) EPS, Q3 2025 earnings at ($1.15) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($4.26) EPS, Q1 2026 earnings at ($1.67) EPS and FY2026 earnings at ($4.13) EPS.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The business had revenue of $0.32 million for the quarter, compared to the consensus estimate of $2.15 million. During the same period in the previous year, the firm earned $0.12 EPS. The company’s revenue was down 99.4% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Oppenheimer dropped their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada dropped their target price on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Bank of America reiterated a “neutral” rating and issued a $38.00 target price (down previously from $68.00) on shares of Prothena in a research note on Tuesday, January 30th. JMP Securities upped their target price on shares of Prothena from $81.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Prothena Trading Down 1.6 %

Shares of NASDAQ PRTA opened at $21.00 on Thursday. The firm’s 50 day moving average price is $26.22 and its 200-day moving average price is $33.12. Prothena has a 52-week low of $20.95 and a 52-week high of $79.65.

Insider Buying and Selling at Prothena

In other Prothena news, CAO Karin L. Walker sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.20% of the stock is owned by corporate insiders.

Institutional Trading of Prothena

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC increased its holdings in Prothena by 0.4% during the first quarter. Cubist Systematic Strategies LLC now owns 40,900 shares of the biotechnology company’s stock valued at $1,982,000 after buying an additional 181 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Prothena by 3.5% in the third quarter. Royal Bank of Canada now owns 8,463 shares of the biotechnology company’s stock worth $409,000 after purchasing an additional 290 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Prothena by 3.9% in the third quarter. Oppenheimer & Co. Inc. now owns 7,908 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 295 shares in the last quarter. Credit Suisse AG increased its stake in shares of Prothena by 1.3% in the second quarter. Credit Suisse AG now owns 27,724 shares of the biotechnology company’s stock worth $753,000 after purchasing an additional 369 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Prothena by 7.1% in the fourth quarter. Amalgamated Bank now owns 6,126 shares of the biotechnology company’s stock worth $369,000 after purchasing an additional 406 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

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.