Published on 17 May 2024 on Simply Wall St. via Yahoo Finance
News Flash: Analysts Just Made A Notable Upgrade To Their Prothena Corporation plc (NASDAQ:PRTA)...
Celebrations may be in order for Prothena Corporation plc (NASDAQ:PRTA) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that Prothena will make substantially more sales than they'd previously expected.
Following the latest upgrade, the current consensus, from the ten analysts covering Prothena, is for revenues of US$15m in 2024, which would reflect a stressful 83% reduction in Prothena's sales over the past 12 months. Per-share losses are expected to explode, reaching US$4.66 per share. However, before this estimates update, the consensus had been expecting revenues of US$13m and US$4.81 per share in losses. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to this year's revenue estimates, while at the same time reducing their loss estimates.