Prothena (NASDAQ:PRTA) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Prothena (NASDAQ:PRTA) posted its earnings results on Thursday. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09), FiscalAI reports. The business had revenue of $0.62 million during the quarter, compared to the consensus estimate of $9.58 million. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%.

Prothena Price Performance

PRTA traded up $0.08 during trading on Friday, reaching $7.97. The company had a trading volume of 421,781 shares, compared to its average volume of 544,602. The company has a market cap of $417.23 million, a P/E ratio of -16.60, a PEG ratio of 2.92 and a beta of -0.20. Prothena has a 12 month low of $7.73 and a 12 month high of $11.80. The business’s fifty day moving average price is $8.65 and its 200 day moving average price is $9.20.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen lowered shares of Prothena from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings cut shares of Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. Finally, UBS Group restated a “buy” rating on shares of Prothena in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Prothena currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Activity

In other news, major shareholder William P. Scully acquired 162,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average cost of $8.68 per share, for a total transaction of $1,406,160.00. Following the completion of the acquisition, the insider owned 214,000 shares in the company, valued at $1,857,520. This represents a 311.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 1,017,500 shares of company stock worth $8,654,850 in the last ninety days. 10.40% of the stock is currently owned by company insiders.

About Prothena

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company’s product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson’s disease.