Prometheus price target raised to $225 from $185 at Guggenheim

Guggenheim analyst Yatin Suneja raised the firm’s price target on Prometheus to $225 from $185 and keeps a Buy rating on the shares after having attended the ECCO conference in Copenhagen and hosted an investor dinner to discuss Phase II updates for PRA023 in ulcerative colitis and Crohn’s Disease. The firm, which tells investors that the data updates build on "the first-in-class/best-in-class profile" for PRA023, thinks that if replicated in Phase 3, ‘023 could be favorably positioned not only for CDx-positive population but for the general population, which would unlock "a huge market opportunity."