Prometheus Biosciences (NASDAQ:RXDX – Get Rating) had its price objective raised by Oppenheimer from $125.00 to $150.00 in a research note published on Wednesday, The Fly reports. Oppenheimer currently has an outperform rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Prometheus Biosciences’ Q1 2023 earnings at ($0.89) EPS, Q2 2023 earnings at ($0.90) EPS, Q3 2023 earnings at ($0.94) EPS, Q4 2023 earnings at ($0.98) EPS, FY2023 earnings at ($3.72) EPS, FY2024 earnings at ($2.89) EPS and FY2025 earnings at ($4.28) EPS.
Several other equities analysts have also issued reports on RXDX. Stifel Nicolaus lifted their target price on shares of Prometheus Biosciences from $50.00 to $55.00 and gave the company a buy rating in a report on Tuesday, November 1st. The Goldman Sachs Group raised their price target on shares of Prometheus Biosciences from $117.00 to $144.00 and gave the company a buy rating in a research report on Tuesday, January 31st. Royal Bank of Canada raised their price target on shares of Prometheus Biosciences from $66.00 to $111.00 in a research report on Wednesday, December 7th. Credit Suisse Group raised their price target on shares of Prometheus Biosciences from $59.00 to $142.00 and gave the company an outperform rating in a research report on Thursday, December 8th. Finally, Wells Fargo & Company raised their price target on shares of Prometheus Biosciences from $71.00 to $164.00 in a research report on Thursday, December 8th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Prometheus Biosciences presently has an average rating of Buy and a consensus target price of $121.70.
Prometheus Biosciences Stock Performance
Shares of RXDX opened at $125.73 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 31.04 and a quick ratio of 11.19. Prometheus Biosciences has a one year low of $21.50 and a one year high of $127.28. The company has a 50-day simple moving average of $115.01 and a two-hundred day simple moving average of $78.45. The firm has a market capitalization of $5.98 billion, a PE ratio of -36.13 and a beta of -0.49.
Insiders Place Their Bets
In other Prometheus Biosciences 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 of the company’s stock, valued at approximately $6,907,337.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Prometheus Biosciences 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 of the company’s stock, valued at approximately $6,907,337.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark C. Mckenna sold 10,620 shares of Prometheus Biosciences stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $125.13, for a total transaction of $1,328,880.60. Following the completion of the sale, the chief executive officer now directly owns 55,144 shares of the company’s stock, valued at approximately $6,900,168.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,320 shares of company stock valued at $8,579,963. Company insiders own 13.08% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of RXDX. Sandia Investment Management LP purchased a new position in shares of Prometheus Biosciences during the 4th quarter worth $55,000. Money Concepts Capital Corp purchased a new position in shares of Prometheus Biosciences during the 4th quarter worth $71,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Prometheus Biosciences by 197.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,406 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 933 shares during the last quarter. Amundi purchased a new position in shares of Prometheus Biosciences during the 2nd quarter worth $100,000. Finally, UBS Group AG boosted its stake in shares of Prometheus Biosciences by 249.8% during the 3rd quarter. UBS Group AG now owns 1,903 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 1,359 shares during the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.
About Prometheus Biosciences
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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