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Prothena (PRTA)
NASDAQ:PRTA
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Prothena
(NASDAQ:PRTA)
45Neutral
Positive Factors
Clinical Trial Progress
PRX012 remains on track to deliver multiple data from its higher-dose MAD cohorts, aiming to strike a balance between optimal plaque clearance and ARIA incidence, which could bolster its position in the AD treatment landscape.
Survival Benefit
Birtamimab might lead to a 50% reduction in mortality in the Mayo Stage four patients.
Therapeutic Potential
The company's decision to explore higher doses with a once-monthly regimen underscores its confidence in the antibody’s therapeutic potential, positioning it as patient-friendly for Alzheimer's patients.
Negative Factors
Investor Sentiment
Analysts are lowering P/E multiples and increasing discount rates to better align with current investor sentiment and elevated cost of capital, resulting in a reduced price target.
Need for Validation
Significant clinical validation is still needed to better understand the efficacy and safety of PRX012.
Statistical Significance
The Phase 2b PADOVA study conducted by Roche narrowly missed the statistical significance in the primary endpoint of time to confirmed motor progression.
Prothena (PRTA) vs. S&P 500 (SPY)
Market Cap
$398.32M
Dividend YieldN/A
Average Volume (3M)1.33M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth54.55%
EPS Growth36.41%
CountryUS
Employees163
SectorHealthcare
Sector Strength43
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.12
Shares Outstanding53,826,980
10 Day Avg. Volume1,812,211
30 Day Avg. Volume1,332,061
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)1.45
Price to Sales (P/S)0.00
P/FCF Ratio-4.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$55.20Price Target Upside657.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Prothena Business Overview & Revenue Model
Company DescriptionProthena Corporation plc (PRTA) is a clinical-stage biotechnology company focused on the discovery and development of novel protein immunotherapies. The company operates primarily in the healthcare sector, with a specialization in neuroscience and rare peripheral amyloid diseases. Prothena's core products and services revolve around its proprietary pipeline of therapeutic antibodies targeting diseases such as AL amyloidosis, Parkinson's disease, and Alzheimer's disease.
How the Company Makes MoneyProthena makes money through a combination of collaborations, licensing agreements, and milestone payments related to its research and development efforts. The company enters into strategic partnerships with larger pharmaceutical companies to co-develop and commercialize its drug candidates. These partnerships typically involve upfront payments and funding for research and development activities. Additionally, Prothena may receive milestone payments upon achieving specific clinical, regulatory, and sales targets. Given the nature of the biotechnology industry, the company's revenue is heavily dependent on the successful development and commercialization of its therapeutic candidates, as well as its ability to secure favorable partnership agreements.
Prothena Key Performance Indicators (KPIs)
Any
Revenue by Segment
Highlights revenue from different business units, indicating which areas are driving growth and where the company might focus its strategic efforts for future expansion.
Highlights revenue from different business units, indicating which areas are driving growth and where the company might focus its strategic efforts for future expansion.
Data provided by:
Main Street Data
Main Street DataProthena Financial Statement Overview
Summary
Prothena's financials reflect a company in transition, with revenue growth overshadowed by persistent profitability challenges. Despite a healthy equity position, cash flow issues and negative returns on equity highlight the need for strategic adjustments to enhance financial performance and operational efficiency.Income Statement
Prothena has shown inconsistent revenue growth, with a significant increase in the most recent year but previously declining revenue. The gross profit margin is positive, yet the company has consistently reported negative net income, resulting in negative net profit and EBIT margins. These suggest ongoing operational challenges and profitability issues.40
Negative
Balance Sheet
The company maintains a solid equity base relative to its liabilities, resulting in a low debt-to-equity ratio. However, the negative return on equity indicates that the company is not currently generating profits from its shareholders' investment. The equity ratio remains strong, supporting financial stability.60
Neutral
Cash Flow
Prothena faced challenges in generating positive operating cash flow, with negative free cash flow indicating a reliance on external financing. The ratio of operating cash flow to net income highlights operational inefficiencies, while fluctuations in free cash flow growth suggest inconsistent cash management.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 135.16M | 91.37M | 53.91M | 200.58M | 853.00K | Gross Profit |
| 135.16M | -129.20M | 47.16M | 118.29M | -74.03M | EBIT |
| -154.56M | -191.04M | -131.56M | 71.97M | -112.73M | EBITDA |
| -154.56M | -190.11M | -131.56M | 71.97M | -111.22M | Net Income Common Stockholders |
| -122.31M | -147.03M | -116.95M | 66.97M | -111.14M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 471.39M | 618.83M | 710.41M | 579.09M | 295.38M | Total Assets |
| 547.11M | 696.38M | 758.03M | 609.37M | 332.98M | Total Debt |
| 10.84M | 11.84M | 6.47M | 12.33M | 17.84M | Net Debt |
| -460.55M | -607.00M | -703.93M | -566.77M | -277.54M | Total Liabilities |
| 60.18M | 135.02M | 135.99M | 143.32M | 148.97M | Stockholders Equity |
| 486.93M | 561.37M | 622.04M | 466.04M | 184.01M |
| Cash Flow | Free Cash Flow | |||
| -150.35M | -136.72M | -109.28M | 92.03M | -80.56M | Operating Cash Flow |
| -150.05M | -133.91M | -108.82M | 92.61M | -80.36M | Investing Cash Flow |
| -298.00K | -2.77M | -464.00K | -575.00K | -196.00K | Financing Cash Flow |
| 1.55M | 45.10M | 241.46M | 190.33M | 215.00K |
Prothena Technical Analysis
Negative
7.29
Price Trends
10.17
Negative
12.32
Negative
15.08
Negative
Market Momentum
-0.92
Negative
29.32
Positive
43.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRTA, the sentiment is Negative. The current price of 7.29 is below the 20-day moving average (MA) of 7.99, below the 50-day MA of 10.17, and below the 200-day MA of 15.08, indicating a bearish trend. The MACD of -0.92 indicates Negative momentum. The RSI at 29.32 is Positive, neither overbought nor oversold. The STOCH value of 43.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRTA.
Prothena Risk Analysis
Prothena disclosed 62 risk factors in its most recent earnings report. Prothena reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Prothena Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $5.19B | 3.04 | -44.20% | 2.82% | 16.59% | -0.39% | |
48 Neutral | $829.50M | ― | 34.94% | ― | ― | ― | |
45 Neutral | $398.32M | ― | -23.46% | ― | 54.55% | 36.41% | |
45 Neutral | $600.07M | ― | -150.50% | ― | ― | -18.75% | |
44 Neutral | $696.97M | ― | -69.21% | ― | -13.76% | 57.73% | |
42 Neutral | $631.52M | ― | -50.50% | ― | ― | 4.28% | |
40 Underperform | $694.91M | ― | -60.45% | ― | ― | 6.99% |
* Healthcare Sector Average
Performance Comparison
PRTA
Prothena
7.29
-14.30
-66.23%
RCKT
Rocket Pharmaceuticals
6.85
-15.59
-69.47%
KALV
KalVista Pharmaceuticals
12.24
0.55
4.70%
REPL
Replimune Group
9.19
3.26
54.97%
IMNM
Immunome
8.56
-5.86
-40.64%
BCAX
Bicara Therapeutics Inc.
15.04
-10.37
-40.81%
Prothena Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q4-2024)
| % Change Since: 2.68%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presents a balanced outlook for Prothena. While there are significant opportunities for growth through its robust portfolio and strategic partnerships, challenges remain, particularly with the dependency on future clinical trial successes and the narrow miss in prasinezumab's statistical significance.Q4-2024 Updates
Positive Updates
Robust Portfolio and Strategic Partnerships
Prothena has a robust portfolio with four wholly-owned and four partnered programs across various stages of clinical development, allowing strategic collaborations to advance treatments while maintaining financial benefits.
Birtamimab's Commercial Potential
Birtamimab represents a significant multi-billion dollar global commercial opportunity as the first potential treatment for AL amyloidosis with demonstrated early survival benefit.
Partnerships with Major Pharmaceutical Companies
Collaborations with companies like Roche, Novo Nordisk, and Bristol Myers Squibb enhance the development of prasinezumab, coramitug, and BMS-986446, advancing them as potential transformative treatments.
Strong Financial Position
Prothena ended 2024 with $472.2 million in cash, cash equivalents, and restricted cash, maintaining a simple capital structure with zero debt.
Negative Updates
Prasinezumab Narrowly Misses Statistical Significance
In the Phase 2b PADOVA study for early Parkinson's disease, prasinezumab showed potential but narrowly missed statistical significance with a p-value of 0.0657.
High Dependency on Future Clinical Success
Financial guidance for 2025 is heavily reliant on the success of upcoming clinical trials, with a projected net loss between $197 million and $205 million.
Company Guidance
During the Prothena Biosciences Fourth Quarter and Full Year 2024 Financial Results Conference Call, the company provided guidance for 2025, highlighting several key metrics. Prothena expects full-year 2025 net cash used in operating and investing activities to range between $168 million and $175 million, anticipating a year-end cash balance of approximately $301 million. The projected net loss for 2025 is estimated to be between $197 million and $205 million, inclusive of an estimated $41 million in non-cash share-based compensation expense. As of December 31, 2024, Prothena reported $472.2 million in cash, cash equivalents, and restricted cash, and as of February 20, 2025, the company had approximately 53.8 million ordinary shares outstanding. The company emphasized that it maintains a simple capital structure with zero debt.Prothena Corporate Events
Executive/Board ChangesShareholder Meetings
Prothena Shareholders Approve Key Amendments at AGM
Neutral
May 16, 2025
On May 13, 2025, Prothena Corporation plc held its annual general meeting where shareholders approved an amendment to the 2018 Long Term Incentive Plan, increasing the number of shares authorized for issuance by 2,000,000. Additionally, shareholders re-elected board members, ratified the appointment of KPMG LLP as the independent auditor for 2025, and approved executive compensation.
The most recent analyst rating on (PRTA) stock is a Buy with a $84.00 price target. To see the full list of analyst forecasts on Prothena stock, see the PRTA Stock Forecast page.
Spark’s Take on PRTA Stock
According to Spark, TipRanks’ AI Analyst, PRTA is a Neutral.
Prothena’s overall stock score reflects the company’s challenges with profitability and cash flow despite revenue growth and strong partnerships. The technical analysis indicates a bearish trend, while the valuation shows the typical high-risk, high-reward scenario of a biotech firm heavily reliant on clinical success. The earnings call highlighted strategic strengths but also underscored the critical need for clinical achievements to drive future growth.
To see Spark’s full report on PRTA stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.