Prometheus Biosciences (NASDAQ:RXDX) Price Target Increased to $60.00 by Analysts at Guggenheim

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) had its target price hoisted by Guggenheim to $60.00 in a research note published on Monday, Stock Target Advisor reports. They currently have a na rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on RXDX. BTIG Research began coverage on shares of Prometheus Biosciences in a research report on Friday, February 11th. They set a buy rating and a $62.00 target price for the company. Zacks Investment Research upgraded shares of Prometheus Biosciences from a sell rating to a hold rating in a research report on Wednesday, May 11th. SVB Leerink boosted their target price on shares of Prometheus Biosciences from $47.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, March 10th. Credit Suisse Group boosted their target price on shares of Prometheus Biosciences from $50.00 to $52.00 and gave the company an outperform rating in a research report on Thursday, March 10th. Finally, Wells Fargo & Company boosted their target price on shares of Prometheus Biosciences from $42.00 to $53.00 and gave the company an overweight rating in a research report on Thursday, March 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $52.88.

RXDX opened at $30.35 on Monday. The firm has a 50 day moving average price of $35.05 and a 200-day moving average price of $35.83. Prometheus Biosciences has a twelve month low of $17.25 and a twelve month high of $51.96. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -10.92 and a beta of 2.63.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.04). Prometheus Biosciences had a negative net margin of 1,722.58% and a negative return on equity of 41.68%. On average, equities analysts predict that Prometheus Biosciences will post -3.3 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of RXDX. Citigroup Inc. boosted its position in shares of Prometheus Biosciences by 140.2% during the third quarter. Citigroup Inc. now owns 1,290 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 753 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Prometheus Biosciences during the first quarter worth $31,000. Royal Bank of Canada boosted its position in shares of Prometheus Biosciences by 116.9% during the third quarter. Royal Bank of Canada now owns 1,677 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 904 shares during the last quarter. Morgan Stanley boosted its position in shares of Prometheus Biosciences by 888.2% during the second quarter. Morgan Stanley now owns 2,856 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 2,567 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Prometheus Biosciences during the first quarter worth $86,000. Institutional investors and hedge funds own 65.41% of the company’s stock.

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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