Prometheus Biosciences (NASDAQ:RXDX) Stock Price Up 7.8% on Analyst Upgrade

Shares of Prometheus Biosciences, Inc. (NASDAQ:RXDXGet Rating) traded up 7.8% during mid-day trading on Monday after Guggenheim raised their price target on the stock to $60.00. Guggenheim currently has a na rating on the stock. Prometheus Biosciences traded as high as $30.00 and last traded at $29.68. 3,129 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 338,072 shares. The stock had previously closed at $27.52.

Other equities research analysts have also issued research reports about the company. BTIG Research assumed coverage on Prometheus Biosciences in a report on Friday, February 11th. They issued a “buy” rating and a $62.00 price objective on the stock. Credit Suisse Group lifted their price objective on Prometheus Biosciences from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. Zacks Investment Research raised Prometheus Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Wells Fargo & Company lifted their price objective on Prometheus Biosciences from $42.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, March 10th. Finally, SVB Leerink lifted their price target on shares of Prometheus Biosciences from $47.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, March 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $52.88.

Several institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in shares of Prometheus Biosciences by 140.2% during the 3rd quarter. Citigroup Inc. now owns 1,290 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 753 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Prometheus Biosciences during the 1st quarter worth approximately $31,000. Royal Bank of Canada raised its position in shares of Prometheus Biosciences by 116.9% during the 3rd quarter. Royal Bank of Canada now owns 1,677 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 904 shares during the last quarter. Rhumbline Advisers raised its position in shares of Prometheus Biosciences by 3.4% during the 1st quarter. Rhumbline Advisers now owns 37,177 shares of the biopharmaceutical company’s stock worth $1,404,000 after purchasing an additional 1,226 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Prometheus Biosciences by 19.7% during the 4th quarter. SG Americas Securities LLC now owns 7,659 shares of the biopharmaceutical company’s stock worth $303,000 after purchasing an additional 1,263 shares during the last quarter. Hedge funds and other institutional investors own 65.41% of the company’s stock.

The company has a 50-day moving average of $34.70 and a 200-day moving average of $35.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 13.56 and a current ratio of 13.56. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -11.53 and a beta of 2.63.

Prometheus Biosciences (NASDAQ:RXDXGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing the consensus estimate 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%. As a group, analysts expect that Prometheus Biosciences, Inc. will post -3.3 earnings per share for the current year.

Prometheus Biosciences Company Profile (NASDAQ:RXDX)

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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