$20.12 Million in Sales Expected for Prothena Co. plc (NASDAQ:PRTA) This Quarter

Wall Street analysts expect Prothena Co. plc (NASDAQ:PRTAGet Rating) to report $20.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Prothena’s earnings, with estimates ranging from $230,000.00 to $40.00 million. Prothena posted sales of $60.07 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.5%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Prothena will report full-year sales of $60.40 million for the current fiscal year, with estimates ranging from $41.60 million to $96.10 million. For the next year, analysts expect that the company will report sales of $112.95 million, with estimates ranging from $75.90 million to $150.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Prothena.

A number of analysts have recently commented on PRTA shares. StockNews.com started coverage on Prothena in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Prothena from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Wednesday, April 20th. Citigroup lowered their target price on Prothena from $87.00 to $73.00 in a research note on Friday, February 18th. Finally, JMP Securities lowered their target price on Prothena from $77.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $62.27.

In other Prothena news, Director Shane Cooke sold 5,000 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $35.08, for a total transaction of $175,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ecor1 Capital, Llc bought 1,062,736 shares of Prothena stock in a transaction on Thursday, May 5th. The shares were purchased at an average cost of $29.02 per share, with a total value of $30,840,598.72. Following the acquisition, the insider now directly owns 11,584,280 shares of the company’s stock, valued at $336,175,805.60. The disclosure for this purchase can be found here. 31.20% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of PRTA. Denali Advisors LLC acquired a new stake in shares of Prothena in the fourth quarter valued at approximately $40,000. Allegheny Financial Group LTD acquired a new stake in shares of Prothena in the fourth quarter valued at approximately $49,000. Spire Wealth Management increased its holdings in shares of Prothena by 938.8% in the fourth quarter. Spire Wealth Management now owns 1,070 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 967 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Prothena by 61.1% in the first quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 657 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Prothena by 1,129.1% in the third quarter. Advisor Group Holdings Inc. now owns 1,438 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 1,321 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Shares of PRTA opened at $25.75 on Thursday. Prothena has a 52 week low of $23.82 and a 52 week high of $79.75. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 21.11 and a beta of 1.37. The stock’s 50-day moving average price is $32.69 and its 200-day moving average price is $38.70.

Prothena Company Profile (Get Rating)

Prothena Corporation plc, a late-stage clinical company, focuses on discovery and development of novel therapies for life-threatening diseases 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, which is in Phase IIb clinical trial for the treatment of Parkinson's disease; PRX004 that completed Phase I clinical trial for the treatment of Transthyretin amyloidosis; and PRX005, which is in Phase I clinical trial for the treatment of Alzheimer's disease.

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