Prometheus downgraded to Neutral from Buy at BTIG

BTIG analyst Julian Harrison downgraded Prometheus (RXDX) to Neutral from Buy without a price target after the company agreed to be acquired by Merck (MRK) for $200 per share. The deal makes sense as it fills a "large void" in Merck’s pipeline, the analyst tells investors in a research note. Prometheus’ PRA023 remains in the pole positions for ulcerative colitis and Crohn’s disease, says the firm.