Zacks: Brokerages Anticipate Prothena Co. PLC (PRTA) Will Announce Quarterly Sales of $280,000.00

Equities analysts forecast that Prothena Co. PLC (NASDAQ:PRTA) will report sales of $280,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Prothena’s earnings. The lowest sales estimate is $260,000.00 and the highest is $300,000.00. Prothena reported sales of $230,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.7%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, February 14th.

On average, analysts expect that Prothena will report full-year sales of $1.00 million for the current fiscal year, with estimates ranging from $990,000.00 to $1.00 million. For the next financial year, analysts anticipate that the company will post sales of $25.95 million, with estimates ranging from $900,000.00 to $51.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Prothena.

Several brokerages have issued reports on PRTA. Oppenheimer reissued a “hold” rating on shares of Prothena in a research report on Sunday, November 11th. BidaskClub cut Prothena from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Prothena in a research report on Friday, November 23rd. ValuEngine raised Prothena from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. Finally, Zacks Investment Research raised Prothena from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Prothena presently has a consensus rating of “Hold” and a consensus price target of $36.22.

A number of large investors have recently made changes to their positions in PRTA. Raymond James & Associates purchased a new position in Prothena in the second quarter worth about $170,000. Marshall Wace LLP bought a new position in shares of Prothena in the third quarter worth about $191,000. Nisa Investment Advisors LLC raised its stake in shares of Prothena by 7,725.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 19,955 shares of the biotechnology company’s stock worth $206,000 after buying an additional 19,700 shares during the period. Trexquant Investment LP bought a new position in shares of Prothena in the third quarter worth about $301,000. Finally, Traynor Capital Management Inc. raised its stake in shares of Prothena by 21.1% in the third quarter. Traynor Capital Management Inc. now owns 24,350 shares of the biotechnology company’s stock worth $318,000 after buying an additional 4,250 shares during the period.

Prothena stock opened at $12.75 on Thursday. Prothena has a one year low of $8.63 and a one year high of $44.75. The firm has a market cap of $509.86 million, a P/E ratio of -3.13 and a beta of 2.56.

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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