Analysts Set Expectations for Prime Medicine FY2025 Earnings

Key Points

• Analysts at Chardan Capital have raised their FY2025 earnings estimate for Prime Medicine to ($1.14) per share, up from a prior estimate of ($1.25), with a target price set at $10.00.
• Multiple analysts have adjusted their ratings for Prime Medicine, with one lowering it from "buy" to "neutral" and target prices ranging from $1.50 to $8.00.
• Insider trading activity includes significant purchases, with major shareholder David R. Liu acquiring 21,000 shares at an average cost of $2.16 per share, increasing his ownership in the company.

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Research analysts at Chardan Capital raised their FY2025 earnings estimates for shares of Prime Medicine in a note issued to investors on Monday, August 11th. Chardan Capital analyst G. Livshits now anticipates that the company will earn ($1.14) per share for the year, up from their prior estimate of ($1.25). Chardan Capital currently has a "Buy" rating and a $10.00 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 weighed in on PRME. HC Wainwright lowered shares of Prime Medicine from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 20th. JMP Securities cut their target price on shares of Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Prime Medicine in a research note on Tuesday, May 20th. Citigroup reissued a "neutral" rating and set a $1.50 target price (down from $10.00) on shares of Prime Medicine in a research note on Tuesday, May 27th. Finally, Wedbush reissued an "outperform" rating and set a $8.00 target price on shares of Prime Medicine in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.92.

Prime Medicine Trading Down 4.3%

Shares of NYSE:PRME opened at $3.65 on Thursday. The company has a 50 day moving average of $3.24 and a 200-day moving average of $2.35. The firm has a market cap of $490.64 million, a P/E ratio of -1.80 and a beta of 2.39. Prime Medicine has a twelve month low of $1.11 and a twelve month high of $5.17.

Insider Buying and Selling

In other Prime Medicine news, major shareholder David R. Liu bought 21,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was bought at an average cost of $2.16 per share, with a total value of $45,360.00. Following the completion of the transaction, the insider directly owned 20,219,945 shares of the company's stock, valued at approximately $43,675,081.20. The trade was a 0.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Arch Venture Partners Xii, Llc bought 3,030,300 shares of the firm's stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $3.30 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the insider directly owned 6,230,300 shares of the company's stock, valued at approximately $20,559,990. This represents a 94.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 3,093,300 shares of company stock worth $10,110,240 in the last 90 days. 22.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prime Medicine

A number of hedge funds have recently made changes to their positions in the business. Creative Planning acquired a new stake in Prime Medicine in the 2nd quarter valued at about $25,000. Freedom Investment Management Inc. bought a new position in shares of Prime Medicine in the 2nd quarter valued at about $26,000. R Squared Ltd acquired a new stake in shares of Prime Medicine during the 2nd quarter worth approximately $31,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Prime Medicine during the 2nd quarter worth approximately $33,000. Finally, XTX Topco Ltd acquired a new stake in shares of Prime Medicine during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 70.37% of the company's stock.

Prime Medicine Company Profile

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.

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