Leerink Partnrs Weighs in on Prothena Co. plc’s Q1 2024 Earnings (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Stock analysts at Leerink Partnrs lowered their Q1 2024 EPS estimates for shares of Prothena in a report issued on Tuesday, April 9th. Leerink Partnrs analyst R. Li now forecasts that the biotechnology company will post earnings per share of ($1.14) for the quarter, down from their prior estimate of ($1.11). The consensus estimate for Prothena’s current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for Prothena’s Q2 2024 earnings at ($1.17) EPS, Q3 2024 earnings at ($1.24) EPS, Q4 2024 earnings at ($1.35) EPS, FY2024 earnings at ($4.90) EPS, FY2025 earnings at ($3.30) EPS, FY2026 earnings at ($5.00) EPS, FY2027 earnings at ($4.85) EPS and FY2028 earnings at $5.85 EPS.

PRTA has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Prothena in a research report on Wednesday, March 13th. Royal Bank of Canada decreased their target price on shares of Prothena from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a report on Wednesday. Oppenheimer decreased their target price on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Finally, JMP Securities raised their target price on shares of Prothena from $81.00 to $85.00 and gave the company a “market outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Prothena Stock Up 2.0 %

NASDAQ:PRTA opened at $23.28 on Friday. Prothena has a 52 week low of $21.90 and a 52 week high of $79.65. The firm’s 50-day simple moving average is $26.57 and its 200 day simple moving average is $33.95.

Prothena (NASDAQ:PRTA) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.03). Prothena had a negative return on equity of 24.84% and a negative net margin of 160.91%. The business had revenue of $0.32 million for the quarter, compared to the consensus estimate of $2.15 million. During the same period in the prior year, the business posted $0.12 earnings per share. Prothena’s revenue was down 99.4% compared to the same quarter last year.

Institutional Investors Weigh In On Prothena

Several hedge funds have recently added to or reduced their stakes in PRTA. KBC Group NV acquired a new stake in Prothena during the 4th quarter worth approximately $34,000. Point72 Middle East FZE acquired a new position in shares of Prothena in the 4th quarter worth approximately $48,000. PNC Financial Services Group Inc. lifted its position in shares of Prothena by 265.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,122 shares during the period. Lazard Asset Management LLC lifted its position in shares of Prothena by 61.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 657 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Prothena by 99.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,375 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 684 shares during the period. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Karin L. Walker sold 5,000 shares of Prothena stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 28.20% of the stock is currently owned by corporate insiders.

Prothena Company Profile

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.