Prometheus Biosciences, Inc. Forecasted to Post FY2024 Earnings of ($5.25) Per Share (NASDAQ:RXDX)

Prometheus Biosciences, Inc. (NASDAQ:RXDX – Get Rating) – Analysts at SVB Leerink decreased their FY2024 earnings per share estimates for Prometheus Biosciences in a research report issued on Wednesday, March 1st. SVB Leerink analyst T. Smith now expects that the biopharmaceutical company will earn ($5.25) per share for the year, down from their prior forecast of ($5.13). The consensus estimate for Prometheus Biosciences’ current full-year earnings is ($3.86) 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.

RXDX has been the topic of several other research reports. Piper Sandler upped their target price on Prometheus Biosciences from $114.00 to $138.00 in a report on Wednesday. Oppenheimer raised their price objective on Prometheus Biosciences from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. BTIG Research raised their price objective on Prometheus Biosciences from $74.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, December 8th. 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 research report on Tuesday, January 31st. Finally, Wells Fargo & Company increased their price objective on shares of Prometheus Biosciences from $71.00 to $164.00 in a report on Thursday, December 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $121.70.

Prometheus Biosciences Price Performance

Shares of NASDAQ:RXDX opened at $125.73 on Friday. Prometheus Biosciences has a 52 week low of $21.50 and a 52 week 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 company has a 50-day moving average price of $115.01 and a 200 day moving average price of $78.45. 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 (NASDAQ:RXDX – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.01. Prometheus Biosciences had a negative return on equity of 43.38% and a negative net margin of 2,081.83%. The company had revenue of $0.65 million for the quarter, compared to analyst estimates of $0.47 million. The business’s revenue was down 37.0% on a year-over-year basis.

Institutional Investors Weigh In On Prometheus Biosciences

A number of hedge funds have recently made changes to their positions in RXDX. Swiss National Bank grew its position in Prometheus Biosciences by 7.4% in the 1st quarter. Swiss National Bank now owns 27,600 shares of the biopharmaceutical company’s stock valued at $1,042,000 after purchasing an additional 1,900 shares during the period. JPMorgan Chase & Co. boosted its holdings in Prometheus Biosciences by 454.6% in the 1st quarter. JPMorgan Chase & Co. now owns 82,927 shares of the biopharmaceutical company’s stock worth $3,131,000 after buying an additional 67,975 shares during the period. Bank of New York Mellon Corp boosted its holdings in Prometheus Biosciences by 10.1% in the 1st 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 period. MetLife Investment Management LLC boosted its holdings in Prometheus Biosciences by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,464 shares of the biopharmaceutical company’s stock valued at $659,000 after purchasing an additional 6,227 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Prometheus Biosciences by 3.4% in the 1st quarter. Rhumbline Advisers now owns 37,177 shares of the biopharmaceutical company’s stock valued at $1,404,000 after purchasing an additional 1,226 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Keith W. Marshall sold 5,000 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $119.00, for a total transaction of $595,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,811 shares in the company, valued at $1,167,509. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Keith W. Marshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $119.00, for a total value of $595,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,811 shares of the company’s stock, valued at $1,167,509. The transaction was disclosed in a legal filing with the SEC, 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 Thursday, February 16th. The shares were sold at an average price of $119.87, for a total value of $2,996,750.00. Following the completion of the sale, the chief executive officer now directly owns 55,144 shares of the company’s stock, valued at $6,610,111.28. The disclosure for this sale can be found here. Insiders sold 71,320 shares of company stock worth $8,579,963 over the last ninety days. 13.08% of the stock is currently owned by corporate insiders.

Prometheus Biosciences Company Profile

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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.