Prothena (NASDAQ:PRTA) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Prothena (NASDAQ:PRTA) announced its earnings results on Thursday. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06), Zacks reports. Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The business had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $7.53 million.

Prothena Stock Up 2.0 %

NASDAQ PRTA opened at $15.56 on Friday. Prothena has a twelve month low of $11.70 and a twelve month high of $31.03. The stock has a 50-day moving average of $14.33 and a 200 day moving average of $16.80.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Oppenheimer boosted their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com downgraded Prothena from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lowered their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Friday. Finally, Bank of America decreased their price objective on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.83.

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.