RBC Capital analyst Gregory Renza keeps his Outperform rating and $66 price target on Prometheus after the company’s results for PRA023 in ARTEMIS-UC phase 2 study. The company’s topline datasets exceeded both the company and investor expectations, providing key proof-of-concept in Inflammatory Bowel Disease, early validation on the biomarker strategy, and a positive read-through to the Cohort 2 ulcerative colitis data now set for Q2 of 2023, the analyst tells investors in a research note.
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