Zacks: Brokerages Anticipate Prothena Co. PLC (NASDAQ:PRTA) Will Announce Earnings of -$0.68 Per Share

Equities analysts expect Prothena Co. PLC (NASDAQ:PRTA) to announce earnings per share (EPS) of ($0.68) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Prothena’s earnings, with the highest EPS estimate coming in at ($0.66) and the lowest estimate coming in at ($0.70). Prothena posted earnings per share of ($0.49) in the same quarter last year, which suggests a negative year over year growth rate of 38.8%. The firm is expected to issue its next earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Prothena will report full-year earnings of ($2.46) per share for the current fiscal year, with EPS estimates ranging from ($2.69) to ($2.01). For the next year, analysts expect that the business will report earnings of ($2.28) per share, with EPS estimates ranging from ($3.61) to ($1.09). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Prothena.

Prothena (NASDAQ:PRTA) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.02). The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.18 million. Prothena had a negative net margin of 11,399.37% and a negative return on equity of 34.56%.

A number of research firms recently commented on PRTA. BidaskClub cut Prothena from a “sell” rating to a “strong sell” rating in a research note on Thursday. Oppenheimer reiterated a “buy” rating and set a $18.00 price objective on shares of Prothena in a research report on Sunday, September 13th. Finally, Zacks Investment Research upgraded Prothena from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Saturday, June 6th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Prothena presently has an average rating of “Hold” and a consensus price target of $16.20.

Shares of NASDAQ PRTA traded up $0.12 during mid-day trading on Friday, reaching $10.14. 192,246 shares of the company were exchanged, compared to its average volume of 259,500. Prothena has a 52 week low of $7.10 and a 52 week high of $17.63. The company’s 50 day moving average price is $12.29 and its 200 day moving average price is $11.36. The stock has a market capitalization of $404.70 million, a PE ratio of -4.45 and a beta of 1.84.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTA. Orbimed Advisors LLC grew its position in Prothena by 22.1% during the 2nd quarter. Orbimed Advisors LLC now owns 3,544,475 shares of the biotechnology company’s stock worth $37,075,000 after acquiring an additional 642,236 shares during the last quarter. Rock Springs Capital Management LP bought a new position in shares of Prothena in the first quarter worth approximately $5,350,000. Nuveen Asset Management LLC increased its stake in shares of Prothena by 34.5% in the first quarter. Nuveen Asset Management LLC now owns 512,306 shares of the biotechnology company’s stock worth $5,482,000 after buying an additional 131,483 shares during the period. Acadian Asset Management LLC boosted its position in Prothena by 87.2% during the 1st quarter. Acadian Asset Management LLC now owns 210,254 shares of the biotechnology company’s stock valued at $2,249,000 after buying an additional 97,916 shares during the period. Finally, Artal Group S.A. grew its holdings in Prothena by 23.3% in the 2nd quarter. Artal Group S.A. now owns 370,000 shares of the biotechnology company’s stock worth $3,870,000 after acquiring an additional 70,000 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Prothena

Prothena Corporation plc, a clinical-stage neuroscience company, focuses on discovery and development of novel therapies for life-threatening diseases in the United States. The company is involved in developing PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a antibody that is in Phase I clinical trial for the treatment of ATTR amyloidosis.

Featured Article: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on Prothena (PRTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Prothena (NASDAQ:PRTA)

Receive News & Ratings for Prothena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prothena and related companies with MarketBeat.com's FREE daily email newsletter.