FY2025 EPS Estimate for Prime Medicine Increased by Analyst

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Equities researchers at Chardan Capital raised their FY2025 earnings per share estimates for Prime Medicine in a report released on Tuesday, May 20th. Chardan Capital analyst G. Livshits now forecasts that the company will post earnings per share of ($1.25) for the year, up from their prior estimate of ($1.39). Chardan Capital has a "Buy" rating and a $12.00 price target on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share.

A number of other equities analysts also recently commented on PRME. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Prime Medicine in a research note on Tuesday, May 20th. JMP Securities lowered their price objective on Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 20th. Citigroup reissued a "neutral" rating and set a $1.50 target price (down previously from $10.00) on shares of Prime Medicine in a research report on Tuesday. Wall Street Zen upgraded Prime Medicine to a "sell" rating in a research note on Tuesday, February 11th. Finally, Wedbush reiterated 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prime Medicine has a consensus rating of "Moderate Buy" and a consensus target price of $10.08.

Prime Medicine Stock Up 4.3%

NYSE PRME traded up $0.06 on Friday, hitting $1.33. 1,366,257 shares of the stock were exchanged, compared to its average volume of 1,329,609. Prime Medicine has a fifty-two week low of $1.11 and a fifty-two week high of $8.14. The company has a 50-day moving average price of $1.49 and a 200-day moving average price of $2.38. The company has a market cap of $173.96 million, a PE ratio of -0.65 and a beta of 1.90.

Prime Medicine (NYSE:PRME - Get Free Report) last announced its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter last year, the firm posted ($2.18) earnings per share.

Hedge Funds Weigh In On Prime Medicine

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of Prime Medicine by 24.6% in the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company's stock valued at $65,000 after acquiring an additional 4,375 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Prime Medicine by 20.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company's stock valued at $81,000 after purchasing an additional 4,725 shares during the period. Levin Capital Strategies L.P. boosted its holdings in Prime Medicine by 7.1% in the 4th quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company's stock valued at $219,000 after purchasing an additional 5,000 shares in the last quarter. Rhumbline Advisers increased its position in Prime Medicine by 13.8% during the 1st quarter. Rhumbline Advisers now owns 81,900 shares of the company's stock worth $163,000 after purchasing an additional 9,944 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Prime Medicine during the 4th quarter worth approximately $33,000. 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.