Prothena (NASDAQ:PRTA) Posts Earnings Results, Misses Expectations By $0.09 EPS

Prothena (NASDAQ:PRTA) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $9.58 million.

Prothena Stock Performance

Shares of NASDAQ:PRTA traded up $0.08 on Friday, reaching $7.97. The company’s stock had a trading volume of 421,781 shares, compared to its average volume of 544,602. The company has a market cap of $417.23 million, a P/E ratio of -16.60, a PEG ratio of 2.92 and a beta of -0.20. Prothena has a 52-week low of $7.73 and a 52-week high of $11.80. The company has a 50-day simple moving average of $8.65 and a 200 day simple moving average of $9.20.

Insider Activity

In other news, major shareholder William P. Scully acquired 50,000 shares of Prothena stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of $8.07 per share, with a total value of $403,500.00. Following the transaction, the insider directly owned 1,187,000 shares of the company’s stock, valued at $9,579,090. This trade represents a 4.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have bought 1,017,500 shares of company stock valued at $8,654,850. 10.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About Prothena

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.