Stifel Resumes Prometheus Biosciences Inc (RXDX) at Buy
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Stifel analyst Annabel Samimy resumes coverage on Prometheus Biosciences Inc (NASDAQ: RXDX) with a Buy rating and a price target of $45.00.
The analyst commented, "We resume coverage of Prometheus Biosciences (RXDX) with a Buy rating and $45TP. Capitalizing on the expansion of precision medicine, RXDX is the first to apply development successes seen in oncology/CNS/cardiology to gastrointestinal/GI diseases, with lead program PRA023—an anti-TL1A antibody for inflammatory bowel disease (IBD). Uniquely, RXDX has exclusive access to an extensive GI database that will allow it to screen patients for enrollment, serving to shorten development timelines and further enrich trial populations for enhanced efficacy. Combined with target validation from PFE’s own anti-TL1A program, we think RXDX has designed a robust program that will accelerate clinical development with what could be a best-in-class approach, with a companion diagnostic to assist in appropriate patient identification—attractive for physicians and payers alike. Lastly, RXDX is applying precision medicine to identify additional conditions, broadening personalized medicine across autoimmune disease, with the next indication soon to emerge."
Shares of Prometheus Biosciences Inc closed at $37.00 yesterday.
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