Leerink Partnrs Comments on Prothena Co. plc’s FY2028 Earnings (NASDAQ:PRTA)

Prothena Co. plc (NASDAQ:PRTA) – Stock analysts at Leerink Partnrs lowered their FY2028 earnings per share estimates for Prothena in a research note issued to investors on Wednesday, May 8th. Leerink Partnrs analyst R. Li now expects that the biotechnology company will post earnings per share of $5.80 for the year, down from their previous forecast of $5.85. The consensus estimate for Prothena’s current full-year earnings is ($4.88) per share.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Prothena from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Royal Bank of Canada cut their target price on Prothena from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. JMP Securities cut their target price on shares of Prothena from $85.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a research report on Wednesday, April 10th. Finally, Oppenheimer lowered their price target on shares of Prothena from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Prothena Trading Up 0.5 %

NASDAQ PRTA traded up $0.10 during trading hours on Friday, reaching $22.10. 99,671 shares of the company traded hands, compared to its average volume of 726,346. The company has a 50 day moving average of $24.19 and a two-hundred day moving average of $30.45. Prothena has a 12 month low of $19.65 and a 12 month high of $77.13. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.86 and a beta of 0.30.

Prothena (NASDAQ:PRTA) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.21) by ($0.13). The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $3.75 million. Prothena had a negative net margin of 160.91% and a negative return on equity of 24.84%. During the same quarter in the previous year, the business posted ($0.89) EPS.

Institutional Investors Weigh In On Prothena

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Focused Wealth Management Inc raised its stake in shares of Prothena by 7,751.9% during the first quarter. Focused Wealth Management Inc now owns 10,129 shares of the biotechnology company’s stock valued at $251,000 after acquiring an additional 10,000 shares during the last quarter. ProShare Advisors LLC raised its stake in Prothena by 8.9% in the first quarter. ProShare Advisors LLC now owns 11,346 shares of the biotechnology company’s stock worth $281,000 after buying an additional 932 shares in the last quarter. Headlands Technologies LLC bought a new position in Prothena in the first quarter worth about $96,000. Susquehanna Fundamental Investments LLC bought a new position in Prothena in the first quarter worth about $342,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Prothena by 67.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 4,157 shares in the last quarter. Hedge funds and other institutional investors own 97.08% of the company’s stock.

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.