Zacks Research Weighs in on Prothena FY2027 Earnings

Prothena Co. plc (NASDAQ:PRTA) – Analysts at Zacks Research issued their FY2027 earnings estimates for shares of Prothena in a report released on Wednesday, March 12th. Zacks Research analyst E. Bagri forecasts that the biotechnology company will post earnings per share of ($3.04) for the year. The consensus estimate for Prothena’s current full-year earnings is ($4.04) per share.

A number of other brokerages also recently commented on PRTA. Piper Sandler raised their target price on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Oppenheimer raised their target price on shares of Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Chardan Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of Prothena in a research note on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Prothena from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Prothena Trading Down 2.3 %

Shares of PRTA stock opened at $13.74 on Friday. The company’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $16.23. Prothena has a 52 week low of $11.70 and a 52 week high of $26.75. The company has a market cap of $739.58 million, a PE ratio of -5.97 and a beta of -0.02.

Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Prothena had a negative net margin of 90.50% and a negative return on equity of 22.67%. The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $7.53 million.

Institutional Investors Weigh In On Prothena

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Prothena by 110.2% in the 3rd quarter. Barclays PLC now owns 95,222 shares of the biotechnology company’s stock worth $1,592,000 after purchasing an additional 49,916 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Prothena by 167.0% in the 4th quarter. SG Americas Securities LLC now owns 37,612 shares of the biotechnology company’s stock worth $521,000 after purchasing an additional 23,525 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prothena by 1,122.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,748 shares of the biotechnology company’s stock worth $8,812,000 after purchasing an additional 483,673 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in shares of Prothena by 41.9% in the 4th quarter. Duncan Williams Asset Management LLC now owns 69,199 shares of the biotechnology company’s stock worth $958,000 after purchasing an additional 20,450 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new stake in shares of Prothena in the 4th quarter worth about $445,000. Institutional investors own 97.08% 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.