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

Prothena (NASDAQ:PRTA) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($1.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.08, Briefing.com reports. Prothena had a negative return on equity of 24.19% and a negative net margin of 98.86%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.22 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was down 98.9% on a year-over-year basis.

Prothena Trading Down 6.6 %

NASDAQ PRTA opened at $16.10 on Friday. Prothena has a 12 month low of $15.30 and a 12 month high of $41.54. The company’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $20.38.

Wall Street Analyst Weigh In

A number of analysts have 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 report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $84.00 price target on shares of Prothena in a report on Wednesday. Royal Bank of Canada dropped their price objective on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. Bank of America reduced their target price 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. Finally, StockNews.com upgraded shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.86.

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.