FY2024 EPS Estimates for Prothena Cut by HC Wainwright

Prothena Co. plc (NASDAQ:PRTA) – Equities research analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Prothena in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Fein now forecasts that the biotechnology company will earn ($2.26) per share for the year, down from their previous forecast of ($2.23). HC Wainwright has a “Buy” rating and a $84.00 price objective on the stock. The consensus estimate for Prothena’s current full-year earnings is ($2.29) per share. HC Wainwright also issued estimates for Prothena’s FY2025 earnings at ($0.38) EPS, FY2026 earnings at ($1.07) EPS and FY2027 earnings at ($1.15) EPS.

Several other research firms have also recently weighed in on PRTA. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Oppenheimer lowered their price objective on shares of Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Bank of America reduced their target price on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reduced their target price 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prothena presently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Prothena Stock Performance

Prothena stock opened at $14.01 on Monday. The firm’s fifty day moving average price is $18.19 and its 200-day moving average price is $20.33. The stock has a market cap of $753.88 million, a P/E ratio of -5.65 and a beta of 0.16. Prothena has a fifty-two week low of $14.00 and a fifty-two week high of $41.54.

Prothena (NASDAQ:PRTA) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.08. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.22 million. During the same period in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was down 98.9% compared to the same quarter last year.

Institutional Investors Weigh In On Prothena

A number of large investors have recently added to or reduced their stakes in the company. DCF Advisers LLC grew its holdings in Prothena by 0.5% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the biotechnology company’s stock worth $2,219,000 after acquiring an additional 500 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Prothena by 4.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 17,531 shares of the biotechnology company’s stock valued at $293,000 after purchasing an additional 739 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Prothena by 182.1% during the 2nd quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Prothena by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock valued at $281,000 after purchasing an additional 932 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Prothena by 13.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors own 97.08% of the company’s stock.

About Prothena

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.