Prothena Co. plc to Post Q1 2023 Earnings of ($0.88) Per Share, SVB Leerink Forecasts (NASDAQ:PRTA)

Posted by Defense World Staff on Apr 27th, 2023

Prothena Co. plc (NASDAQ:PRTA – Get Rating) – SVB Leerink issued their Q1 2023 earnings per share (EPS) estimates for Prothena in a research note issued on Monday, April 24th. SVB Leerink analyst R. Li forecasts that the biotechnology company will post earnings of ($0.88) per share for the quarter. SVB Leerink currently has a “Outperform” rating on the stock. The consensus estimate for Prothena’s current full-year earnings is ($3.70) per share. SVB Leerink also issued estimates for Prothena’s Q2 2023 earnings at ($0.88) EPS, Q3 2023 earnings at ($0.92) EPS, Q4 2023 earnings at ($1.03) EPS, FY2023 earnings at ($3.72) EPS, FY2024 earnings at ($2.47) EPS, FY2025 earnings at ($2.84) EPS, FY2026 earnings at ($4.99) EPS and FY2027 earnings at ($4.85) EPS.

Prothena (NASDAQ:PRTA – Get Rating) last posted its earnings results on Thursday, February 23rd. The biotechnology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.76. The firm had revenue of $49.90 million during the quarter, compared to analysts’ expectations of $29.14 million. Prothena had a negative return on equity of 24.98% and a negative net margin of 216.95%. The firm’s revenue was up 4058.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.71) earnings per share.

Several other equities research analysts have also recently commented on PRTA. StockNews.com initiated coverage on Prothena in a research note on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler initiated coverage on shares of Prothena in a research note on Friday, January 27th. They issued an “overweight” rating and a $94.00 price objective on the stock. SVB Securities initiated coverage on shares of Prothena in a research note on Monday. They issued an “outperform” rating and a $80.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Prothena in a research note on Monday, April 3rd. Finally, Citigroup lowered their price objective on shares of Prothena from $76.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.22.

Prothena Trading Down 1.7 %

Shares of NASDAQ PRTA opened at $53.33 on Wednesday. Prothena has a twelve month low of $21.06 and a twelve month high of $66.47. The stock has a 50 day moving average of $50.90 and a two-hundred day moving average of $55.15. The stock has a market cap of $2.81 billion, a P/E ratio of -21.25 and a beta of 0.40.

Institutional Trading of Prothena

A number of hedge funds have recently made changes to their positions in PRTA. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Prothena during the third quarter worth approximately $27,000. Point72 Middle East FZE acquired a new position in Prothena in the fourth quarter worth $48,000. Lazard Asset Management LLC boosted its holdings in Prothena by 61.1% in the first quarter. Lazard Asset Management LLC now owns 1,733 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 657 shares during the period. Point72 Hong Kong Ltd acquired a new position in Prothena in the first quarter worth $141,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Prothena by 170.1% in the second quarter. BNP Paribas Arbitrage SA now owns 8,299 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 5,226 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

Insider Activity

In other news, CAO Karin L. Walker sold 20,000 shares of Prothena stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $48.42, for a total transaction of $968,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Karin L. Walker sold 20,000 shares of Prothena stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $48.42, for a total transaction of $968,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Tran Nguyen sold 10,000 shares of Prothena stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $48.43, for a total transaction of $484,300.00. Following the sale, the chief financial officer now owns 3,200 shares in the company, valued at approximately $154,976. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock worth $3,460,900 over the last 90 days. Company insiders own 28.20% of the company’s stock.

About Prothena

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Prothena Corp. Plc is a clinical-stage neuroscience company. It focuses on the discovery and development of novel therapies to change the course of devastating diseases. The firm’s clinical pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases.