Cantor Fitzgerald Forecasts Stronger Earnings for Prothena

Prothena Co. plc (NASDAQ:PRTA) – Equities researchers at Cantor Fitzgerald upped their FY2025 earnings estimates for shares of Prothena in a research note issued to investors on Monday, May 12th. Cantor Fitzgerald analyst C. Duncan now anticipates that the biotechnology company will post earnings of ($3.59) per share for the year, up from their previous estimate of ($3.61). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Prothena’s current full-year earnings is ($4.04) per share.

Prothena (NASDAQ:PRTA) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.20). Prothena had a negative return on equity of 22.67% and a negative net margin of 90.50%. The company had revenue of $2.83 million for the quarter, compared to analysts’ expectations of $8.18 million. During the same period in the prior year, the firm posted ($1.34) EPS. The firm’s quarterly revenue was up 5500.0% on a year-over-year basis.

A number of other research firms also recently commented on PRTA. StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. JMP Securities dropped their price objective on shares of Prothena from $80.00 to $78.00 and set a “market outperform” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada dropped their price target on Prothena from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Oppenheimer increased their price objective on Prothena from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Piper Sandler upped their target price on shares of Prothena from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Prothena has a consensus rating of “Moderate Buy” and an average target price of $51.71.

Prothena Price Performance

Shares of NASDAQ:PRTA opened at $7.59 on Wednesday. The firm has a market capitalization of $408.55 million, a price-to-earnings ratio of -3.30 and a beta of 0.11. The business’s 50 day simple moving average is $10.80 and its 200-day simple moving average is $13.47. Prothena has a 12 month low of $6.92 and a 12 month high of $25.42.

Institutional Trading of Prothena

A number of hedge funds have recently added to or reduced their stakes in PRTA. Virtus ETF Advisers LLC grew its holdings in Prothena by 19.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,148 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 833 shares during the period. GAMMA Investing LLC lifted its position in Prothena by 4,626.0% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 5,875 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Prothena by 196.5% in the fourth quarter. Headlands Technologies LLC now owns 7,330 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 4,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Prothena in the 1st quarter valued at $126,000. Finally, Teacher Retirement System of Texas purchased a new stake in Prothena during the 4th quarter worth $145,000. 97.08% of the stock is owned by institutional investors and hedge funds.

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.