Prothena (PRTA) Issues Quarterly Earnings Results

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Prothena (NASDAQ:PRTA) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.43, Fidelity Earnings reports. Prothena had a negative return on equity of 46.42% and a negative net margin of 21,884.38%. The business had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.26 million.

PRTA stock traded up $0.22 during trading hours on Wednesday, hitting $13.03. 46,541 shares of the stock were exchanged, compared to its average volume of 468,432. The stock has a market capitalization of $532.22 million, a price-to-earnings ratio of -3.24 and a beta of 2.63. Prothena has a 12 month low of $10.43 and a 12 month high of $62.62.

Hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its position in Prothena by 47.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,455 shares of the biotechnology company’s stock worth $166,000 after buying an additional 3,700 shares during the period. Raymond James & Associates bought a new position in Prothena during the 2nd quarter worth $170,000. Xact Kapitalforvaltning AB bought a new position in Prothena during the 1st quarter worth $210,000. LPL Financial LLC bought a new position in Prothena during the 1st quarter worth $210,000. Finally, Senzar Asset Management LLC bought a new position in Prothena during the 2nd quarter worth $249,000.

Several equities research analysts have issued reports on the company. BidaskClub raised Prothena from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised Prothena from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 price target on shares of Prothena in a report on Wednesday, August 8th. Finally, ValuEngine raised Prothena from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.67.

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Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on the discovery, development, and commercialization of novel immunotherapies for the treatment of diseases in the neuroscience and orphan categories. The company is developing antibody-based product candidates that include NEOD001, a monoclonal antibody that is in Phase III and Phase IIb clinical trials for the treatment of AL amyloidosis; PRX002/RG7935 that is in Phase II clinical trial for treating Parkinson's disease and other related synucleinopathies; and PRX004, a monoclonal antibody that is under preclinical development for the treatment of ATTR Amyloidosis.

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Earnings History for Prothena (NASDAQ:PRTA)

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