HC Wainwright Issues Positive Estimate for Prothena Earnings

Prothena Corporation plc (NASDAQ:PRTA) – Equities researchers at HC Wainwright lifted their FY2026 EPS estimates for Prothena in a research note issued to investors on Friday, August 7th. HC Wainwright analyst A. Fein now anticipates that the biotechnology company will post earnings of ($0.47) per share for the year, up from their prior forecast of ($0.63). HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Prothena’s current full-year earnings is $0.18 per share. HC Wainwright also issued estimates for Prothena’s FY2027 earnings at ($1.28) EPS, FY2028 earnings at $1.10 EPS, FY2029 earnings at ($1.25) EPS and FY2030 earnings at $2.37 EPS.

Several other equities research analysts have also recently weighed in on PRTA. Weiss Ratings upgraded shares of Prothena from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. UBS Group reissued a “buy” rating on shares of Prothena in a research note on Friday, July 24th. Citizens Jmp raised their price target on shares of Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Finally, Citigroup restated an “outperform” rating on shares of Prothena in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Prothena presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Prothena Trading Up 4.1%

NASDAQ:PRTA opened at $9.12 on Tuesday. The firm has a 50 day moving average of $8.89 and a 200-day moving average of $9.40. Prothena has a 1 year low of $7.39 and a 1 year high of $11.80. The stock has a market capitalization of $477.43 million, a P/E ratio of -10.86, a price-to-earnings-growth ratio of 1.40 and a beta of -0.29.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. The firm had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $0.42 million.

Institutional Investors Weigh In On Prothena

A number of hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Prothena during the 1st quarter valued at about $230,000. Creative Planning increased its stake in Prothena by 373.0% during the 2nd quarter. Creative Planning now owns 50,569 shares of the biotechnology company’s stock worth $307,000 after purchasing an additional 39,879 shares in the last quarter. American Century Companies Inc. raised its holdings in Prothena by 72.1% during the 2nd quarter. American Century Companies Inc. now owns 59,965 shares of the biotechnology company’s stock worth $364,000 after buying an additional 25,129 shares during the period. Russell Investments Group Ltd. raised its holdings in Prothena by 7,956.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 96,196 shares of the biotechnology company’s stock worth $584,000 after buying an additional 95,002 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Prothena by 251.8% in the second quarter. Hsbc Holdings PLC now owns 46,047 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 32,959 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Insider Activity

In other Prothena news, General Counsel Michael John Isaacs sold 8,386 shares of Prothena stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total transaction of $71,029.42. Following the transaction, the general counsel directly owned 35,745 shares in the company, valued at approximately $302,760.15. The trade was a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder William P. Scully bought 125,000 shares of Prothena stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $8.17 per share, for a total transaction of $1,021,250.00. Following the completion of the acquisition, the insider owned 1,061,000 shares of the company’s stock, valued at approximately $8,668,370. This represents a 13.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 345,000 shares of company stock valued at $3,097,250 in the last quarter. Company insiders own 10.40% of the company’s stock.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.