Jefferies Group Equities Analysts Raise Earnings Estimates for Prothena Co. PLC (PRTA)

Prothena Co. PLC (NASDAQ:PRTA) – Research analysts at Jefferies Group raised their Q1 2018 earnings per share (EPS) estimates for shares of Prothena in a note issued to investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst M. Yee now anticipates that the biotechnology company will earn ($1.33) per share for the quarter, up from their previous forecast of ($1.49). Jefferies Group also issued estimates for Prothena’s Q2 2018 earnings at ($1.42) EPS, Q3 2018 earnings at ($1.39) EPS, Q4 2018 earnings at ($1.47) EPS and FY2018 earnings at ($5.62) EPS.

Several other research firms have also recently commented on PRTA. Wedbush cut Prothena from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $55.00 in a research note on Monday, November 20th. Oppenheimer set a $70.00 price objective on Prothena and gave the company a “buy” rating in a report on Monday, December 4th. BidaskClub raised Prothena from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $65.00 target price on shares of Prothena in a report on Sunday, February 4th. Finally, Zacks Investment Research lowered Prothena from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.55.

Shares of Prothena (PRTA) traded up $0.07 on Monday, hitting $34.66. The company’s stock had a trading volume of 179,897 shares, compared to its average volume of 483,885. Prothena has a 12 month low of $27.19 and a 12 month high of $70.00. The firm has a market capitalization of $1,346.41, a PE ratio of -8.54 and a beta of 2.79.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Wednesday, February 14th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.48) by $0.24. The firm had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.27 million. Prothena had a negative return on equity of 33.37% and a negative net margin of 556.84%. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.41) earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio lifted its position in Prothena by 69.2% in the third quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 900 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Prothena in the third quarter worth approximately $162,000. Teacher Retirement System of Texas acquired a new stake in Prothena in the third quarter worth approximately $206,000. HL Financial Services LLC acquired a new stake in shares of Prothena during the 3rd quarter valued at $208,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Prothena by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,249 shares of the biotechnology company’s stock valued at $176,000 after acquiring an additional 250 shares during the last quarter.

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About Prothena

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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