Prothena Co. PLC (NASDAQ:PRTA) Expected to Post Earnings of -$0.68 Per Share

Equities research analysts expect Prothena Co. PLC (NASDAQ:PRTA) to report earnings per share of ($0.68) for the current quarter, Zacks reports. Three analysts have made estimates for Prothena’s earnings, with the highest EPS estimate coming in at ($0.66) and the lowest estimate coming in at ($0.70). Prothena posted earnings of ($0.49) per share during the same quarter last year, which indicates a negative year over year growth rate of 38.8%. The business is expected to report its next quarterly earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Prothena will report full-year earnings of ($2.47) per share for the current year, with EPS estimates ranging from ($2.69) to ($2.01). For the next financial year, analysts forecast that the firm will report earnings of ($2.20) per share, with EPS estimates ranging from ($3.61) to ($1.09). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Prothena.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.02). The business had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.18 million. Prothena had a negative net margin of 11,399.37% and a negative return on equity of 34.56%.

Several research analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on Prothena from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday. Oppenheimer reissued a “buy” rating and issued a $18.00 target price on shares of Prothena in a research report on Sunday, September 13th. Finally, BidaskClub lowered Prothena from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.50.

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Prothena by 134.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,178 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 9,855 shares during the last quarter. Morgan Stanley boosted its stake in Prothena by 30.5% during the 1st quarter. Morgan Stanley now owns 106,571 shares of the biotechnology company’s stock valued at $1,140,000 after purchasing an additional 24,885 shares during the last quarter. AXA boosted its stake in Prothena by 24.1% during the 1st quarter. AXA now owns 182,009 shares of the biotechnology company’s stock valued at $1,947,000 after purchasing an additional 35,300 shares during the last quarter. Bank of America Corp DE boosted its stake in Prothena by 65.2% during the 2nd quarter. Bank of America Corp DE now owns 31,297 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 12,355 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Prothena by 1.4% during the 1st quarter. Two Sigma Advisers LP now owns 203,900 shares of the biotechnology company’s stock valued at $2,182,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Shares of NASDAQ:PRTA opened at $11.45 on Wednesday. Prothena has a 52-week low of $7.10 and a 52-week high of $17.63. The firm has a market capitalization of $456.97 million, a P/E ratio of -5.02 and a beta of 1.85. The stock has a 50 day moving average price of $11.19 and a 200-day moving average price of $11.52.

About Prothena

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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Earnings History and Estimates for Prothena (NASDAQ:PRTA)

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