Prometheus Biosciences, Inc. (NASDAQ:RXDX) Given Average Rating of “Buy” by Brokerages

Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) have earned a consensus rating of “Buy” from the ten research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $136.70.

A number of research firms have commented on RXDX. Piper Sandler increased their price objective on shares of Prometheus Biosciences from $114.00 to $138.00 in a report on Wednesday, March 1st. BTIG Research raised their price target on shares of Prometheus Biosciences from $74.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, December 8th. Credit Suisse Group cut their price target on shares of Prometheus Biosciences from $142.00 to $139.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. The Goldman Sachs Group raised their price target on shares of Prometheus Biosciences from $117.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of Prometheus Biosciences from $66.00 to $111.00 in a report on Wednesday, December 7th.

Prometheus Biosciences Stock Up 3.1 %

RXDX stock opened at $126.29 on Wednesday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -36.29 and a beta of -0.49. The company has a current ratio of 31.04, a quick ratio of 31.04 and a debt-to-equity ratio of 0.04. Prometheus Biosciences has a 12 month low of $21.50 and a 12 month high of $129.60. The firm has a 50-day moving average of $115.63 and a two-hundred day moving average of $79.72.

Prometheus Biosciences (NASDAQ:RXDX – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.01. The company had revenue of $0.65 million during the quarter, compared to the consensus estimate 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 was down 37.0% on a year-over-year basis. As a group, analysts forecast that Prometheus Biosciences will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Prometheus Biosciences

In related news, 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 value of $87,682.00. Following the completion of the sale, the chief executive officer now owns 55,144 shares in the company, valued at approximately $6,907,337.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prometheus Biosciences news, CEO Mark C. Mckenna sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $125.26, for a total value of $87,682.00. Following the completion of the transaction, the chief executive officer now owns 55,144 shares of the company’s stock, valued at approximately $6,907,337.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 55,144 shares of the company’s stock, valued at approximately $6,561,584.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,320 shares of company stock worth $8,579,963. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Prometheus Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Prometheus Biosciences by 17.6% in the 3rd quarter. BlackRock Inc. now owns 2,134,272 shares of the biopharmaceutical company’s stock valued at $125,945,000 after buying an additional 319,310 shares during the period. Boxer Capital LLC lifted its position in shares of Prometheus Biosciences by 10.7% during the 4th quarter. Boxer Capital LLC now owns 1,897,500 shares of the biopharmaceutical company’s stock worth $208,725,000 after purchasing an additional 183,500 shares during the last quarter. State Street Corp lifted its position in shares of Prometheus Biosciences by 226.9% during the 3rd quarter. State Street Corp now owns 1,586,074 shares of the biopharmaceutical company’s stock worth $93,594,000 after purchasing an additional 1,100,857 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Prometheus Biosciences by 26.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,561,606 shares of the biopharmaceutical company’s stock worth $92,151,000 after purchasing an additional 328,397 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Prometheus Biosciences by 2,632.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,366,426 shares of the biopharmaceutical company’s stock worth $38,574,000 after purchasing an additional 1,316,426 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.

About Prometheus Biosciences

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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.