SVB Leerink Weighs in on Prometheus Biosciences, Inc.’s FY2024 Earnings (NASDAQ:RXDX)

Prometheus Biosciences, Inc. (NASDAQ:RXDXGet Rating) – SVB Leerink reduced their FY2024 earnings per share (EPS) estimates for shares of Prometheus Biosciences in a note issued to investors on Wednesday, March 1st. SVB Leerink analyst T. Smith now anticipates that the biopharmaceutical company will post earnings of ($5.25) per share for the year, down from their previous forecast of ($5.13). The consensus estimate for Prometheus Biosciences’ current full-year earnings is ($3.66) per share. SVB Leerink also issued estimates for Prometheus Biosciences’ FY2025 earnings at ($6.81) EPS, FY2026 earnings at ($8.40) EPS and FY2027 earnings at ($5.38) EPS.

A number of other brokerages have also commented on RXDX. The Goldman Sachs Group lifted their price objective on Prometheus Biosciences from $117.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Royal Bank of Canada lifted their price target on shares of Prometheus Biosciences from $66.00 to $111.00 in a research report on Wednesday, December 7th. Piper Sandler increased their price objective on shares of Prometheus Biosciences from $114.00 to $138.00 in a report on Wednesday. Credit Suisse Group lowered their target price on shares of Prometheus Biosciences from $142.00 to $139.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Prometheus Biosciences from $71.00 to $164.00 in a research report on Thursday, December 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $121.70.

Prometheus Biosciences Trading Up 2.0 %

RXDX stock opened at $125.73 on Friday. The company has a quick ratio of 11.19, a current ratio of 31.04 and a debt-to-equity ratio of 0.04. Prometheus Biosciences has a twelve month low of $21.50 and a twelve month high of $127.28. The company has a market cap of $5.98 billion, a P/E ratio of -36.13 and a beta of -0.49. The business has a fifty day moving average of $115.01 and a 200-day moving average of $78.24.

Prometheus Biosciences (NASDAQ:RXDXGet Rating) last posted its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.01. The firm had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $0.47 million. Prometheus Biosciences had a negative net margin of 2,081.83% and a negative return on equity of 43.38%. The company’s revenue for the quarter was down 37.0% compared to the same quarter last year.

Hedge Funds Weigh In On Prometheus Biosciences

A number of large investors have recently added to or reduced their stakes in RXDX. Swiss National Bank grew its holdings in shares of Prometheus Biosciences by 7.4% during the first quarter. Swiss National Bank now owns 27,600 shares of the biopharmaceutical company’s stock worth $1,042,000 after buying an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Prometheus Biosciences by 454.6% during the 1st quarter. JPMorgan Chase & Co. now owns 82,927 shares of the biopharmaceutical company’s stock worth $3,131,000 after acquiring an additional 67,975 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Prometheus Biosciences by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 128,626 shares of the biopharmaceutical company’s stock valued at $4,857,000 after purchasing an additional 11,844 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Prometheus Biosciences by 55.4% in the first quarter. MetLife Investment Management LLC now owns 17,464 shares of the biopharmaceutical company’s stock worth $659,000 after purchasing an additional 6,227 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Prometheus Biosciences by 3.4% during the first quarter. Rhumbline Advisers now owns 37,177 shares of the biopharmaceutical company’s stock worth $1,404,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 78.31% of the company’s stock.

Insider Activity at Prometheus Biosciences

In other Prometheus Biosciences news, CEO Mark C. Mckenna sold 25,000 shares of Prometheus Biosciences stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $118.99, for a total transaction of $2,974,750.00. Following the transaction, the chief executive officer now directly owns 55,144 shares in the company, valued at $6,561,584.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Prometheus Biosciences news, CEO Mark C. Mckenna sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $118.99, for a total transaction of $2,974,750.00. Following the sale, the chief executive officer now directly owns 55,144 shares in the company, valued at approximately $6,561,584.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark C. Mckenna sold 700 shares of Prometheus Biosciences stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $125.26, for a total transaction of $87,682.00. Following the completion of the transaction, the chief executive officer now directly owns 55,144 shares in the company, valued at approximately $6,907,337.44. The disclosure for this sale can be found here. Insiders sold a total of 71,320 shares of company stock worth $8,579,963 in the last quarter. Corporate insiders own 13.08% 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.

Further Reading

Earnings History and Estimates for Prometheus Biosciences (NASDAQ:RXDX)

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