Analysts Issue Forecasts for Prothena Co. plc’s Q2 2024 Earnings (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTAFree Report) – Zacks Research lifted their Q2 2024 earnings estimates for Prothena in a research note issued on Monday, May 27th. Zacks Research analyst E. Bagri now expects that the biotechnology company will earn ($1.22) per share for the quarter, up from their previous forecast of ($1.24). The consensus estimate for Prothena’s current full-year earnings is ($4.69) per share. Zacks Research also issued estimates for Prothena’s Q3 2024 earnings at ($1.19) EPS, Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($4.73) EPS, Q1 2025 earnings at ($1.45) EPS, Q2 2025 earnings at ($1.49) EPS, Q3 2025 earnings at ($1.45) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($4.44) EPS, Q1 2026 earnings at ($1.44) EPS and FY2026 earnings at ($3.21) EPS.

Several other research analysts also recently commented on PRTA. Royal Bank of Canada lowered their target price on Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Oppenheimer lowered their price objective on Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. HC Wainwright lowered their price objective on Prothena from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research note on Wednesday, April 10th. Finally, JMP Securities lowered their price objective on Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Check Out Our Latest Stock Analysis on Prothena

Prothena Trading Up 2.7 %

Shares of NASDAQ PRTA opened at $20.21 on Thursday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -6.22 and a beta of 0.30. Prothena has a 12 month low of $19.52 and a 12 month high of $77.13. The stock has a 50-day moving average price of $22.39 and a two-hundred day moving average price of $28.90.

Prothena (NASDAQ:PRTAGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.13). The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $3.75 million. Prothena had a negative return on equity of 30.48% and a negative net margin of 193.17%. During the same period in the prior year, the company earned ($0.89) EPS.

Hedge Funds Weigh In On Prothena

A number of hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Prothena by 98.4% during the 3rd quarter. Raymond James & Associates now owns 8,167 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 4,050 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Prothena by 58.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,096 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 1,140 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Prothena by 4.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 11,231 shares of the biotechnology company’s stock worth $542,000 after purchasing an additional 529 shares during the period. Jump Financial LLC raised its stake in shares of Prothena by 167.1% during the 3rd quarter. Jump Financial LLC now owns 63,117 shares of the biotechnology company’s stock worth $3,045,000 after purchasing an additional 39,486 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Prothena during the 3rd quarter worth $464,000. 97.08% of the stock is owned by hedge funds and other institutional investors.

About Prothena

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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.

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Earnings History and Estimates for Prothena (NASDAQ:PRTA)

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