Prothena FY2024 EPS Forecast Raised by Cantor Fitzgerald

Prothena Co. plc (NASDAQ:PRTA) – Analysts at Cantor Fitzgerald boosted their FY2024 earnings per share estimates for shares of Prothena in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst C. Duncan now forecasts that the biotechnology company will post earnings per share of ($2.41) for the year, up from their prior estimate of ($2.52). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Prothena’s current full-year earnings is ($2.29) per share.

Several other analysts have also recently commented on PRTA. HC Wainwright restated a “buy” rating and issued a $84.00 price target on shares of Prothena in a report on Wednesday, November 13th. Bank of America reduced their price objective on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. StockNews.com raised Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Royal Bank of Canada reduced their price objective on Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. Finally, Oppenheimer reduced their price objective on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Prothena Trading Down 13.0 %

Prothena stock opened at $14.01 on Monday. The stock has a market cap of $753.88 million, a PE ratio of -5.65 and a beta of 0.16. The stock has a 50-day moving average price of $18.19 and a 200 day moving average price of $20.33. Prothena has a 52 week low of $14.00 and a 52 week high of $41.54.

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

Hedge Funds Weigh In On Prothena

Several hedge funds and other institutional investors have recently bought and sold shares of PRTA. Wellington Management Group LLP lifted its position in Prothena by 14.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,178,788 shares of the biotechnology company’s stock worth $69,911,000 after acquiring an additional 539,359 shares in the last quarter. Artal Group S.A. raised its position in shares of Prothena by 99.7% in the 1st quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after purchasing an additional 500,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $8,812,000 after purchasing an additional 483,673 shares in the last quarter. Armistice Capital LLC raised its position in shares of Prothena by 42.3% in the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock valued at $32,198,000 after purchasing an additional 464,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Prothena by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after purchasing an additional 54,728 shares in the last quarter. 97.08% of the stock is owned by institutional investors and hedge funds.

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.