Prometheus Biosciences, Inc. (NASDAQ:RXDX) Receives $38.60 Consensus Price Target from Analysts

Prometheus Biosciences, Inc. (NASDAQ:RXDX) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $38.60.

A number of analysts have issued reports on RXDX shares. Stifel Nicolaus started coverage on shares of Prometheus Biosciences in a research note on Friday, November 12th. They issued a “buy” rating and a $45.00 target price for the company. Oppenheimer cut shares of Prometheus Biosciences from an “outperform” rating to a “market perform” rating and set a $35.00 target price for the company. in a research note on Monday, November 15th. SVB Leerink lifted their target price on shares of Prometheus Biosciences from $34.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, November 15th. Finally, Zacks Investment Research lowered shares of Prometheus Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, November 18th.

A number of institutional investors have recently made changes to their positions in the business. Citigroup Inc. increased its holdings in Prometheus Biosciences by 140.2% in 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 during the period. Royal Bank of Canada increased its holdings in Prometheus Biosciences by 116.9% in 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 during the period. Bank of New York Mellon Corp increased its holdings in Prometheus Biosciences by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 33,854 shares of the biopharmaceutical company’s stock valued at $803,000 after buying an additional 2,450 shares during the period. Morgan Stanley increased its holdings in Prometheus Biosciences by 888.2% in 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 during the period. Finally, Bank of America Corp DE increased its holdings in Prometheus Biosciences by 237.2% in 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 during the period. 61.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RXDX stock traded up $2.34 during trading on Thursday, hitting $30.31. 179,035 shares of the company were exchanged, compared to its average volume of 150,411. The business’s 50-day moving average is $28.69. Prometheus Biosciences has a twelve month low of $16.11 and a twelve month high of $39.98.

Prometheus Biosciences (NASDAQ:RXDX) last posted its quarterly earnings results on Thursday, November 11th. The biopharmaceutical company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.11). On average, analysts predict that Prometheus Biosciences will post -2.14 EPS for the current fiscal year.

About Prometheus Biosciences

Prometheus Biosciences, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of precision therapeutics and companion diagnostics products for the treatment and diagnosis of inflammatory bowel diseases (IBD). Its products include PRA023, a Phase I clinical trial IgG1 humanized monoclonal antibody (mAb); PR600, an anti- tumor necrosis factor mAb for IBD; PR300, a G-protein coupled receptor modulator small molecule for IBD; PR1800, anti-chemokine mAb for IBD; and PR2100, an anti-inflammatory cytokine mAb for IBD.

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Analyst Recommendations for Prometheus Biosciences (NASDAQ:RXDX)

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