Prime Medicine (NYSE:PRME) Earns Outperform Rating from Analysts at Lifesci Capital

Lifesci Capital assumed coverage on shares of Prime Medicine (NYSE:PRME) in a research note released on Tuesday,Benzinga reports. The firm issued an outperform rating and a $6.00 price target on the stock. Lifesci Capital also issued estimates for Prime Medicine’s FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($0.90) EPS, FY2027 earnings at ($0.79) EPS, FY2028 earnings at ($0.74) EPS and FY2029 earnings at ($0.78) EPS.

A number of other brokerages also recently issued reports on PRME. Citigroup lowered their price target on shares of Prime Medicine from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Prime Medicine in a report on Monday, November 10th. Finally, Chardan Capital cut their price target on shares of Prime Medicine from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.21.

Prime Medicine Stock Performance

Shares of PRME opened at $3.62 on Tuesday. Prime Medicine has a 52-week low of $1.11 and a 52-week high of $6.94. The stock’s 50-day simple moving average is $4.11 and its 200 day simple moving average is $4.00. The stock has a market capitalization of $653.45 million, a price-to-earnings ratio of -1.77 and a beta of 2.70.

Hedge Funds Weigh In On Prime Medicine

A number of institutional investors have recently made changes to their positions in PRME. Charles Schwab Investment Management Inc. raised its position in shares of Prime Medicine by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 503,697 shares of the company’s stock valued at $1,002,000 after buying an additional 19,106 shares in the last quarter. Deutsche Bank AG increased its stake in Prime Medicine by 56.9% in the first quarter. Deutsche Bank AG now owns 126,846 shares of the company’s stock valued at $252,000 after acquiring an additional 46,011 shares during the last quarter. Nuveen LLC purchased a new stake in Prime Medicine during the first quarter valued at about $118,000. Ieq Capital LLC bought a new stake in Prime Medicine during the first quarter worth about $69,000. Finally, AQR Capital Management LLC lifted its stake 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 purchasing an additional 227,749 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Company Profile

Prime Medicine, Inc (NYSE: PRME) is a clinical-stage genetic medicines company focused on harnessing the potential of prime editing, an advanced CRISPR-derived gene editing technology. By refining the tools required for precise correction of disease-causing mutations, Prime Medicine aims to develop single-dose treatments that address underlying genetic drivers of disease. The company applies its proprietary engineering and delivery platforms to optimize on-target efficiency and minimize off-target effects, positioning itself at the forefront of next-generation gene editing therapeutics.

Prime Medicine’s research and development efforts span multiple therapeutic areas, including rare genetic disorders, immuno-oncology, and autoimmune diseases.