Zacks Research Brokers Increase Earnings Estimates for Prothena Co. plc (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Investment analysts at Zacks Research boosted their Q1 2024 EPS estimates for shares of Prothena in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings of ($1.29) per share for the quarter, up from their prior forecast of ($1.32). The consensus estimate for Prothena’s current full-year earnings is ($4.89) 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 issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The firm had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $2.15 million. During the same period in the previous year, the firm earned $0.12 EPS. The firm’s quarterly revenue was down 99.4% on a year-over-year basis.

A number of other research firms have also recently commented on PRTA. Oppenheimer lowered their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. StockNews.com cut shares of Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Prothena in a research note on Wednesday, March 13th. Finally, JMP Securities lifted their target price on shares of Prothena from $81.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Prothena currently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Prothena Stock Down 1.6 %

Shares of Prothena stock opened at $21.00 on Thursday. The firm’s 50 day moving average price is $26.22 and its 200-day moving average price is $33.12. Prothena has a 52-week low of $20.95 and a 52-week high of $79.65.

Insider Buying and Selling at Prothena

In other Prothena news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On Prothena

Several large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its stake in shares of Prothena by 0.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 40,900 shares of the biotechnology company’s stock valued at $1,982,000 after purchasing an additional 181 shares during the period. Royal Bank of Canada lifted its stake in shares of Prothena by 3.5% in the 3rd quarter. Royal Bank of Canada now owns 8,463 shares of the biotechnology company’s stock valued at $409,000 after purchasing an additional 290 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Prothena by 3.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,908 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 295 shares during the period. Credit Suisse AG lifted its stake in shares of Prothena by 1.3% in the 2nd quarter. Credit Suisse AG now owns 27,724 shares of the biotechnology company’s stock valued at $753,000 after purchasing an additional 369 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Prothena by 7.1% in the 4th quarter. Amalgamated Bank now owns 6,126 shares of the biotechnology company’s stock valued at $369,000 after purchasing an additional 406 shares during the period. 97.08% of the stock is currently owned by institutional investors and hedge funds.

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.