Oppenheimer raised the firm’s price target on Prometheus to $150 from $125 and keeps an Outperform rating on the shares after the company released year-end results following a stellar 2022. With previously announced significant Phase 2 wins for PRA023, and a financing of north of $500M in the bag, the firm sees Prometheus as positioned to advance into Phase 3’s for both UC and CD independently, along with multiple other clinical studies for PRA023 and additional pipeline programs.
Published first on TheFly
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