Prothena Co. PLC (NASDAQ:PRTA) – Stock analysts at Cantor Fitzgerald upped their FY2019 earnings per share estimates for Prothena in a research note issued to investors on Wednesday, November 6th. Cantor Fitzgerald analyst C. Duncan now forecasts that the biotechnology company will post earnings of ($2.03) per share for the year, up from their previous forecast of ($2.14). Cantor Fitzgerald also issued estimates for Prothena’s FY2020 earnings at ($1.34) EPS.
Other equities analysts have also issued reports about the company. BidaskClub raised Prothena from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. Zacks Investment Research lowered Prothena from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research note on Wednesday, October 23rd. Finally, ValuEngine raised Prothena from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $11.26.
Prothena (NASDAQ:PRTA) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.05. Prothena had a negative return on equity of 25.54% and a negative net margin of 10,450.00%. The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.15 million.
A number of institutional investors have recently made changes to their positions in PRTA. Orbimed Advisors LLC boosted its stake in Prothena by 25.9% during the second quarter. Orbimed Advisors LLC now owns 3,065,278 shares of the biotechnology company’s stock valued at $32,400,000 after buying an additional 630,000 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Prothena during the second quarter valued at approximately $2,674,000. Marshall Wace LLP purchased a new stake in Prothena during the second quarter valued at approximately $1,834,000. Laurion Capital Management LP purchased a new stake in Prothena during the second quarter valued at approximately $1,230,000. Finally, Fosun International Ltd purchased a new stake in Prothena during the second quarter valued at approximately $1,112,000. 96.89% of the stock is owned by institutional investors.
Prothena Corporation plc, a clinical-stage neuroscience company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.
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