Prothena (NASDAQ:PRTA) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Prothena (NASDAQ:PRTA) released its quarterly earnings results on Thursday. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.06), Zacks reports. Prothena had a negative net margin of 98.86% and a negative return on equity of 24.19%.

Prothena Stock Performance

Shares of NASDAQ PRTA traded up $0.27 during midday trading on Thursday, hitting $15.25. 357,679 shares of the company’s stock traded hands, compared to its average volume of 366,475. The firm has a fifty day moving average of $14.25 and a 200 day moving average of $16.84. The stock has a market capitalization of $820.60 million, a price-to-earnings ratio of -6.15 and a beta of 0.08. Prothena has a 1 year low of $11.70 and a 1 year high of $31.03.

Analyst Ratings Changes

A number of brokerages have recently commented on PRTA. HC Wainwright restated a “buy” rating and set a $48.00 target price (down previously from $84.00) on shares of Prothena in a report on Friday, December 20th. StockNews.com lowered Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Bank of America decreased their target price on Prothena from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Oppenheimer boosted their target price on Prothena from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Chardan Capital assumed coverage on Prothena in a research report on Friday, December 20th. They issued a “buy” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Prothena has an average rating of “Moderate Buy” and an average target price of $46.50.

About Prothena

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.