Prometheus Biosciences, Inc. (NASDAQ:RXDX) Receives Average Recommendation of “Buy” from Brokerages

Prometheus Biosciences, Inc. (NASDAQ:RXDXGet Rating) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $51.86.

A number of research firms have commented on RXDX. Credit Suisse Group upped their price target on Prometheus Biosciences from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, March 10th. Zacks Investment Research raised Prometheus Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, January 18th. BTIG Research initiated coverage on Prometheus Biosciences in a research report on Friday, February 11th. They set a “buy” rating and a $62.00 price target for the company. Wells Fargo & Company increased their target price on Prometheus Biosciences from $42.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, March 10th. Finally, SVB Leerink increased their target price on Prometheus Biosciences from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, March 10th.

Hedge funds have recently bought and sold shares of the stock. Citigroup Inc. increased its position in Prometheus Biosciences by 140.2% during the 3rd quarter. Citigroup Inc. now owns 1,290 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 753 shares in the last quarter. Royal Bank of Canada increased its position in Prometheus Biosciences by 116.9% during the 3rd quarter. Royal Bank of Canada now owns 1,677 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 904 shares in the last quarter. Morgan Stanley increased its position in Prometheus Biosciences by 888.2% during the 2nd quarter. Morgan Stanley now owns 2,856 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 2,567 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in Prometheus Biosciences during the 3rd quarter valued at approximately $88,000. Finally, Bank of America Corp DE increased its position in Prometheus Biosciences by 237.2% during the 2nd quarter. Bank of America Corp DE now owns 4,141 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 2,913 shares in the last quarter. 62.43% of the stock is owned by institutional investors.

Shares of RXDX stock opened at $35.12 on Friday. The stock has a market capitalization of $1.37 billion and a PE ratio of -9.67. Prometheus Biosciences has a 1-year low of $16.65 and a 1-year high of $51.96. The business has a 50-day moving average of $41.45 and a 200 day moving average of $35.53.

Prometheus Biosciences (NASDAQ:RXDXGet Rating) last released its quarterly earnings results on Wednesday, March 9th. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.12). The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.82 million. Prometheus Biosciences had a negative net margin of 2,882.55% and a negative return on equity of 33.41%. Research analysts anticipate that Prometheus Biosciences will post -3.3 EPS for the current fiscal year.

About Prometheus Biosciences (Get Rating)

Prometheus Biosciences, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of novel therapeutics and companion diagnostics products for the treatment of inflammatory bowel diseases (IBD). Its lead product includes PRA023, a humanized IgG1 monoclonal antibody (mAb), which is in Phase IIa clinical trial for the treatment of ulcerative colitis and Crohn's disease, as well as systemic sclerosis-associated interstitial lung disease.

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Analyst Recommendations for Prometheus Biosciences (NASDAQ:RXDX)

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