FY2028 EPS Estimates for Prothena Increased by HC Wainwright

Prothena Co. plc (NASDAQ:PRTA) – HC Wainwright boosted their FY2028 EPS 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 $3.34 per share for the year, up from their previous estimate of $3.26. 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 ($2.34) per share.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research note on Monday, September 30th. Royal Bank of Canada dropped their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, August 9th. StockNews.com raised shares of Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Oppenheimer lowered 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. Finally, Bank of America cut their target price on Prothena from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Prothena has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Prothena Price Performance

Shares of PRTA stock opened at $14.01 on Friday. Prothena has a fifty-two week low of $14.00 and a fifty-two week high of $41.54. The stock’s 50-day moving average is $18.19 and its two-hundred day moving average is $20.34. The firm has a market cap of $753.46 million, a P/E ratio of -5.65 and a beta of 0.16.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.08. 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%. Prothena’s revenue for the quarter was down 98.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share.

Hedge Funds Weigh In On Prothena

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake 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 valued at $69,911,000 after purchasing an additional 539,359 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Prothena by 42.3% during the 2nd quarter. Armistice Capital LLC now owns 1,560,000 shares of the biotechnology company’s stock worth $32,198,000 after purchasing an additional 464,000 shares during the period. Vanguard Group Inc. raised its position in shares of Prothena by 5.1% during the first quarter. Vanguard Group Inc. now owns 1,125,283 shares of the biotechnology company’s stock valued at $27,873,000 after buying an additional 54,728 shares during the last quarter. Artal Group S.A. lifted its stake in shares of Prothena by 99.7% in the first quarter. Artal Group S.A. now owns 1,001,360 shares of the biotechnology company’s stock valued at $24,804,000 after buying an additional 500,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prothena by 1,122.9% during the third 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 buying an additional 483,673 shares in the last quarter. Institutional investors and hedge funds 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.