Stifel analyst Annabel Samimy reiterates a Buy rating on Prometheus and her price target remains under review, as she is "thoroughly impressed" with the company’s first major data read-out of PRA023/anti-TL1A antibody in ulcerative colitis and Crohn’s disease, both "far exceeding" expectations. Importantly, PRA023 showed no safety signal over 12 weeks and even first evidence of anti-fibrotic/anti-inflammatory activity. Samimy thinks PRA023 is easily within "best-in-class" overall-even potentially beyond in TL1A+ patients-and with signs of anti-fibrotic activity, "PRA023 represents disruption to IBD."
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RXDX:
- Prometheus Biosciences, Inc. Announces Proposed Public Offering of Common Stock
- Prometheus Biosciences Shares Tripled Today after Positive Drug Results
- Prometheus shares should be up ‘meaningfully’ after UC/CD data, says Wells Fargo
- Prometheus’ PRA023 phase 2b trial data exceed expectations, says RBC Capital
- Prometheus announces results for PRA023 in APOLLO-CD Phase 2 study