Shares of Prime Medicine, Inc. (NYSE:PRME – Get Free Report) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $21.60.
A number of brokerages have commented on PRME. JPMorgan Chase & Co. lowered their price target on Prime Medicine from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday. Jonestrading assumed coverage on Prime Medicine in a report on Wednesday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley cut their price target on Prime Medicine from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 14th. BMO Capital Markets assumed coverage on Prime Medicine in a research note on Monday, October 9th. They issued an “outperform” rating and a $19.00 price target for the company. Finally, Guggenheim assumed coverage on Prime Medicine in a research note on Monday, July 31st. They issued a “buy” rating and a $24.00 price target for the company.
Institutional Investors Weigh In On Prime Medicine
Prime Medicine Trading Down 8.7 %
Shares of PRME opened at $6.85 on Tuesday. The stock’s 50-day moving average price is $9.29. Prime Medicine has a one year low of $5.54 and a one year high of $21.73. The firm has a market cap of $666.16 million and a PE ratio of -3.39.
Prime Medicine (NYSE:PRME – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). As a group, equities research analysts predict that Prime Medicine will post -1.82 EPS for the current fiscal year.
Prime Medicine Company Profile
Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.
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