Prime Medicine FY2025 EPS Estimate Raised by Chardan Capital

Prime Medicine, Inc. (NYSE:PRME) – Stock analysts at Chardan Capital raised their FY2025 earnings per share estimates for shares of Prime Medicine in a research report issued on Tuesday, May 20th. Chardan Capital analyst G. Livshits now forecasts that the company will earn ($1.25) per share for the year, up from their prior estimate of ($1.39). Chardan Capital currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.68) per share.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Prime Medicine in a report on Tuesday. Wall Street Zen upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. HC Wainwright lowered Prime Medicine from a “buy” rating to a “neutral” rating in a report on Tuesday. JMP Securities dropped their price target on shares of Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target (up from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

Prime Medicine Stock Up 4.9%

PRME opened at $1.29 on Friday. The stock has a fifty day moving average of $1.52 and a 200-day moving average of $2.44. The firm has a market capitalization of $169.37 million, a P/E ratio of -0.63 and a beta of 1.90. Prime Medicine has a 12-month low of $1.11 and a 12-month high of $8.14.

Prime Medicine (NYSE:PRME) last released its earnings results on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter in the prior year, the firm posted ($2.18) earnings per share.

Hedge Funds Weigh In On Prime Medicine

Several hedge funds have recently bought and sold shares of the business. Chelsea Counsel Co. increased its position in Prime Medicine by 11.5% during the first quarter. Chelsea Counsel Co. now owns 208,210 shares of the company’s stock worth $414,000 after buying an additional 21,430 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Prime Medicine during the first quarter worth $101,000. AQR Capital Management LLC increased its position in Prime Medicine by 1,419.4% during the first quarter. AQR Capital Management LLC now owns 243,795 shares of the company’s stock worth $485,000 after buying an additional 227,749 shares during the last quarter. Ieq Capital LLC acquired a new position in Prime Medicine during the first quarter worth $69,000. Finally, T. Rowe Price Investment Management Inc. increased its position in Prime Medicine by 4.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,143,096 shares of the company’s stock worth $8,245,000 after buying an additional 165,268 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

About Prime Medicine

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of 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.