HC Wainwright Decreases Earnings Estimates for Prothena

Prothena Corporation plc (NASDAQ:PRTA) – Research analysts at HC Wainwright reduced their FY2030 earnings per share (EPS) estimates for Prothena in a report released on Friday, May 8th. HC Wainwright analyst A. Fein now forecasts that the biotechnology company will earn $2.35 per share for the year, down from their previous estimate of $2.64. The consensus estimate for Prothena’s current full-year earnings is $0.69 per share.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.91. Prothena had a negative return on equity of 43.44% and a negative net margin of 260.92%.The firm had revenue of $51.08 million during the quarter, compared to the consensus estimate of $0.81 million.

A number of other research analysts have also issued reports on PRTA. Stifel Nicolaus set a $19.00 target price on shares of Prothena in a research report on Friday, March 13th. Weiss Ratings cut Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, April 27th. Royal Bank Of Canada increased their price target on Prothena from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Citizens Jmp lifted their price objective on Prothena from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Citigroup reiterated an “outperform” rating on shares of Prothena in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.78.

Prothena Trading Down 9.9%

NASDAQ:PRTA opened at $9.67 on Tuesday. The stock has a market capitalization of $506.22 million, a PE ratio of -3.43, a P/E/G ratio of 0.38 and a beta of -0.23. Prothena has a 1-year low of $4.32 and a 1-year high of $11.80. The firm has a fifty day simple moving average of $9.98 and a 200 day simple moving average of $9.81.

Institutional Trading of Prothena

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Prothena by 479.6% during the third quarter. JPMorgan Chase & Co. now owns 735,765 shares of the biotechnology company’s stock worth $7,181,000 after acquiring an additional 608,814 shares in the last quarter. Focused Wealth Management Inc boosted its stake in shares of Prothena by 88.1% in the 4th quarter. Focused Wealth Management Inc now owns 107,479 shares of the biotechnology company’s stock valued at $1,026,000 after purchasing an additional 50,350 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Prothena in the 4th quarter valued at approximately $161,000. Brooklyn Investment Group grew its holdings in shares of Prothena by 13.1% during the 3rd quarter. Brooklyn Investment Group now owns 12,569 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 1,456 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Prothena by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 136,322 shares of the biotechnology company’s stock worth $1,325,000 after purchasing an additional 3,622 shares in the last quarter. 97.08% of the stock is currently owned by institutional investors.

About Prothena

Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.

The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.