Prothena Co. plc to Post Q1 2024 Earnings of ($1.29) Per Share, Zacks Research Forecasts (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Equities researchers at Zacks Research upped their Q1 2024 earnings per share estimates for shares of Prothena in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst E. Bagri now expects that the biotechnology company will post earnings of ($1.29) per share for the quarter, up from their previous estimate of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.88) 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 released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.03). The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $2.15 million. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. The company’s revenue was down 99.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS.

Several other research analysts have also weighed in on the company. JMP Securities boosted their price target on Prothena from $81.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. Royal Bank of Canada lowered their price target on Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Bank of America reissued a “neutral” rating and set a $38.00 target price (down from $68.00) on shares of Prothena in a report on Tuesday, January 30th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Prothena in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Prothena Stock Performance

NASDAQ PRTA opened at $21.16 on Thursday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.56 and a beta of 0.21. Prothena has a 52 week low of $20.42 and a 52 week high of $79.65. The stock’s 50 day moving average price is $25.94 and its two-hundred day moving average price is $32.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. KBC Group NV bought a new stake in shares of Prothena during the 4th quarter valued at $34,000. Point72 Middle East FZE bought a new stake in shares of Prothena during the 4th quarter valued at $48,000. PNC Financial Services Group Inc. lifted its position in shares of Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,122 shares during the period. Lazard Asset Management LLC lifted its position in shares of Prothena by 61.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 657 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Prothena by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 684 shares during the period. 97.08% of the stock is owned by institutional investors and hedge funds.

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 on Wednesday, January 24th. The stock was sold at an average price of $34.00, for a total value of $170,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 28.20% of the company’s stock.

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.