Prothena (NASDAQ:PRTA) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Prothena (NASDAQ:PRTA) released its earnings results on Wednesday. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13), Briefing.com reports. Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. During the same quarter in the prior year, the business posted ($0.89) earnings per share.

Prothena Price Performance

NASDAQ PRTA traded down $1.04 during trading on Thursday, reaching $21.99. 214,628 shares of the company’s stock traded hands, compared to its average volume of 728,783. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -8.23 and a beta of 0.30. The company’s 50 day simple moving average is $24.30 and its two-hundred day simple moving average is $30.50. Prothena has a 12-month low of $19.65 and a 12-month high of $77.36.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRTA. JMP Securities raised their target price on shares of Prothena from $81.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Prothena in a report on Wednesday, March 13th. Oppenheimer decreased their price objective on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. StockNews.com lowered shares of Prothena from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.14.

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.