Prometheus Biosciences (NASDAQ:RXDX) Now Covered by Piper Sandler

Research analysts at Piper Sandler began coverage on shares of Prometheus Biosciences (NASDAQ:RXDXGet Rating) in a research note issued on Friday, The Fly reports. The firm set an “overweight” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on RXDX. BTIG Research began coverage on Prometheus Biosciences in a research note on Friday, February 11th. They issued a “buy” rating and a $62.00 price objective on the stock. Zacks Investment Research upgraded Prometheus Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. SVB Leerink reaffirmed an “outperform” rating on shares of Prometheus Biosciences in a research report on Thursday, May 12th. Credit Suisse Group increased 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. Finally, Wells Fargo & Company raised their price objective on Prometheus Biosciences from $42.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, March 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $52.88.

NASDAQ:RXDX opened at $26.35 on Friday. The company has a quick ratio of 13.56, a current ratio of 13.56 and a debt-to-equity ratio of 0.07. Prometheus Biosciences has a 52-week low of $19.79 and a 52-week high of $51.96. The firm has a market cap of $1.03 billion, a P/E ratio of -9.48 and a beta of 2.64. The business’s 50-day moving average price is $29.78 and its 200 day moving average price is $34.86.

Prometheus Biosciences (NASDAQ:RXDXGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.04). Prometheus Biosciences had a negative net margin of 1,722.58% and a negative return on equity of 43.92%. Sell-side analysts expect that Prometheus Biosciences will post -3.6 EPS for the current year.

Several hedge funds have recently bought and sold shares of RXDX. Morgan Stanley raised its position in shares of Prometheus Biosciences by 888.2% in the 2nd quarter. Morgan Stanley now owns 2,856 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 2,567 shares in the last quarter. Bank of America Corp DE increased its position 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 in the last quarter. Citigroup Inc. increased its position 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 in the last quarter. Goldman Sachs Group Inc. bought a new stake in Prometheus Biosciences in the 3rd quarter valued at about $4,024,000. Finally, Geode Capital Management LLC increased its position in Prometheus Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 215,174 shares of the biopharmaceutical company’s stock valued at $5,101,000 after buying an additional 4,562 shares in the last quarter. 65.41% of the stock is owned by hedge funds and other institutional investors.

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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