Prothena (NASDAQ:PRTA) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Prothena (NASDAQ:PRTA) released its earnings results on Tuesday. The biotechnology company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08, Briefing.com reports. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.22 million. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%. The business’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS.

Prothena Stock Performance

Prothena stock opened at $16.10 on Friday. Prothena has a 12 month low of $15.30 and a 12 month high of $41.54. The company’s fifty day simple moving average is $18.32 and its 200-day simple moving average is $20.38.

Wall Street Analyst Weigh In

PRTA has been the topic of a number of recent research reports. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Bank of America reduced their price objective on shares of Prothena from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Oppenheimer dropped their target price 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. HC Wainwright restated a “buy” rating and issued a $84.00 price target on shares of Prothena in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

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.