Prothena (NASDAQ:PRTA) Issues Earnings Results, Misses Estimates By $0.09 EPS

Prothena (NASDAQ:PRTA) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09), FiscalAI reports. Prothena had a negative net margin of 80.68% and a negative return on equity of 16.45%. The business had revenue of $0.62 million during the quarter, compared to analyst estimates of $9.58 million.

Prothena Stock Up 1.0%

Shares of PRTA stock traded up $0.08 on Friday, reaching $7.97. The stock had a trading volume of 421,781 shares, compared to its average volume of 544,602. The firm’s 50-day moving average is $8.65 and its two-hundred day moving average is $9.20. The firm has a market capitalization of $417.23 million, a price-to-earnings ratio of -16.60, a P/E/G ratio of 2.92 and a beta of -0.20. Prothena has a 12 month low of $7.73 and a 12 month high of $11.80.

Analysts Set New Price Targets

PRTA has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of Prothena in a research report on Friday, July 24th. Wall Street Zen cut Prothena from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Prothena in a research report on Friday, July 24th. Finally, Weiss Ratings downgraded Prothena from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Buying and Selling

In other Prothena news, major shareholder William P. Scully purchased 162,000 shares of Prothena stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average price of $8.68 per share, for a total transaction of $1,406,160.00. Following the completion of the acquisition, the insider owned 214,000 shares of the company’s stock, valued at approximately $1,857,520. This trade represents a 311.54% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 1,017,500 shares of company stock worth $8,654,850 in the last three months. Company insiders own 10.40% of the company’s stock.

Prothena Company Profile

Prothena Corporation plc (NASDAQ: PRTA) is a clinical-stage biotechnology company focused on discovering and developing novel medicines for serious neurodegenerative and rare peripheral diseases. Its research is centered on disease-causing proteins, including amyloid-beta, alpha-synuclein and transthyretin, with the goal of creating antibody-based therapies that address underlying disease mechanisms.

The company’s product pipeline has included birtamimab, an investigational antibody being developed for the treatment of AL amyloidosis, and prasinezumab, an investigational alpha-synuclein antibody being developed in collaboration with Roche for certain forms of Parkinson’s disease.