Prothena Corporation PLC (NASDAQ:PRTA) Announces Earnings Results, Beats Expectations By $0.43 EPS
Prothena Corporation PLC (NASDAQ:PRTA) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.43, Briefing.com reports. The company had revenue of $26.81 million during the quarter, compared to the consensus estimate of $16.08 million. Prothena Corporation PLC had a negative return on equity of 39.67% and a negative net margin of 16,012.49%. Prothena Corporation PLC’s revenue was up 7951.1% on a year-over-year basis. During the same period last year, the company earned ($1.18) earnings per share.
Shares of Prothena Corporation PLC (NASDAQ PRTA) traded up 0.24% during trading on Tuesday, hitting $61.69. The stock had a trading volume of 265,807 shares. The stock’s market cap is $2.35 billion. The company’s 50 day moving average price is $59.91 and its 200 day moving average price is $54.54. Prothena Corporation PLC has a 12 month low of $40.58 and a 12 month high of $69.53.
A number of analysts have weighed in on the company. BidaskClub lowered Prothena Corporation PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC assumed coverage on Prothena Corporation PLC in a research note on Monday, July 10th. They issued a “buy” rating and a $100.00 target price on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $70.00 target price on shares of Prothena Corporation PLC in a research note on Thursday, July 6th. ValuEngine upgraded Prothena Corporation PLC from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, BTIG Research assumed coverage on Prothena Corporation PLC in a research note on Friday, May 19th. They issued a “buy” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Prothena Corporation PLC currently has a consensus rating of “Buy” and an average target price of $76.45.
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In related news, Director Dennis J. Selkoe sold 3,500 shares of the business’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $58.11, for a total value of $203,385.00. Following the sale, the director now owns 6,345 shares in the company, valued at approximately $368,707.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karin L. Walker sold 5,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $64.89, for a total value of $324,450.00. Following the completion of the sale, the insider now owns 5,000 shares in the company, valued at approximately $324,450. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.
Prothena Corporation PLC Company Profile
Prothena Corporation Public Limited Company is a global biotechnology company. The Company is focused on the discovery, development and commercialization of immunotherapies for the treatment of diseases that involve protein misfolding or cell adhesion. The Company’s clinical pipeline of antibody-based product candidates targets a range of indications, including Amyloid Light-chain (AL) amyloidosis (NEOD001), Parkinson’s disease and other related synucleinopathies (PRX002), and inflammatory diseases, including psoriasis and psoriatic arthritis (PRX003) and ATTR amyloidosis (PRX004).
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