FY2017 EPS Estimates for Prothena Co. PLC Lifted by Analyst (PRTA)
Prothena Co. PLC (NASDAQ:PRTA) – Analysts at Cantor Fitzgerald lifted their FY2017 earnings per share (EPS) estimates for Prothena Co. PLC in a research report issued on Monday. Cantor Fitzgerald analyst W. Tanner now anticipates that the biotechnology company will post earnings of ($4.68) per share for the year, up from their previous estimate of ($4.91). Cantor Fitzgerald currently has a “Buy” rating and a $79.00 target price on the stock. Cantor Fitzgerald also issued estimates for Prothena Co. PLC’s FY2018 earnings at ($5.61) EPS.
Prothena Co. PLC (NASDAQ:PRTA) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.43. Prothena Co. PLC had a negative net margin of 66.02% and a negative return on equity of 14.44%. The business had revenue of $26.81 million during the quarter, compared to the consensus estimate of $16.08 million. During the same quarter in the previous year, the firm earned ($1.18) EPS. The company’s revenue was up 7951.1% compared to the same quarter last year.
Several other research analysts have also issued reports on the company. ValuEngine raised Prothena Co. PLC from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Royal Bank Of Canada began coverage on shares of Prothena Co. PLC in a report on Thursday, September 14th. They set an “outperform” rating and a $87.00 price objective on the stock. BidaskClub cut shares of Prothena Co. PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC assumed coverage on Prothena Co. PLC in a report on Monday, July 10th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, BTIG Research dropped their price objective on Prothena Co. PLC from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, September 29th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $78.58.
Shares of Prothena Co. PLC (PRTA) opened at 63.76 on Wednesday. Prothena Co. PLC has a 52-week low of $40.58 and a 52-week high of $70.00. The stock’s 50 day moving average is $61.21 and its 200-day moving average is $57.11. The firm’s market capitalization is $2.44 billion.
A number of institutional investors have recently made changes to their positions in PRTA. Ameritas Investment Partners Inc. raised its position in Prothena Co. PLC by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock valued at $176,000 after purchasing an additional 250 shares during the period. Platinum Investment Management Ltd. lifted its position in shares of Prothena Co. PLC by 8.3% during the second quarter. Platinum Investment Management Ltd. now owns 66,500 shares of the biotechnology company’s stock worth $3,598,000 after purchasing an additional 5,100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Prothena Co. PLC by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 28,559 shares of the biotechnology company’s stock worth $1,545,000 after purchasing an additional 2,664 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Prothena Co. PLC during the second quarter worth $287,000. Finally, PointState Capital LP bought a new stake in shares of Prothena Co. PLC during the second quarter worth $14,748,000.
In related news, Director Dennis J. Selkoe sold 3,500 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $58.11, for a total value of $203,385.00. Following the completion of the transaction, the director now owns 6,345 shares of the company’s stock, valued at approximately $368,707.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher S. Henney sold 900 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $70.00, for a total transaction of $63,000.00. Following the completion of the transaction, the director now directly owns 900 shares of the company’s stock, valued at approximately $63,000. The disclosure for this sale can be found here. Insiders have sold a total of 34,424 shares of company stock worth $2,226,027 in the last quarter. Corporate insiders own 3.10% of the company’s stock.
Prothena Co. 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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