FY2025 EPS Estimates for Prime Medicine Increased by Analyst

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Stock analysts at Chardan Capital boosted their FY2025 earnings per share (EPS) estimates for Prime Medicine in a research report issued on Tuesday, May 20th. Chardan Capital analyst G. Livshits now anticipates 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 objective on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share.

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

A number of other equities research analysts have also recently weighed in on PRME. 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, May 20th. JMP Securities dropped their price target 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. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Prime Medicine in a research report on Tuesday, May 20th. Finally, Wedbush restated an "outperform" rating and set a $13.00 target price (up from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prime Medicine presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.80.

Prime Medicine Price Performance

Prime Medicine stock traded up $0.06 during mid-day trading on Friday, reaching $1.29. The company had a trading volume of 2,003,032 shares, compared to its average volume of 1,328,146. The stock's 50-day simple moving average is $1.52 and its 200-day simple moving average is $2.42. Prime Medicine has a 1 year low of $1.11 and a 1 year high of $8.14. The company has a market capitalization of $169.37 million, a P/E ratio of -0.63 and a beta of 1.90.

Institutional Investors Weigh In On Prime Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in PRME. T. Rowe Price Investment Management Inc. lifted 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 period. Price T Rowe Associates Inc. MD increased its stake in shares of Prime Medicine by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,584,476 shares of the company's stock valued at $4,628,000 after acquiring an additional 38,515 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Prime Medicine by 7.9% during the 4th quarter. Geode Capital Management LLC now owns 1,467,606 shares of the company's stock worth $4,287,000 after acquiring an additional 107,627 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Prime Medicine by 96.5% in the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company's stock worth $2,579,000 after acquiring an additional 433,653 shares during the last quarter. Finally, Greenwich Wealth Management LLC boosted its position in shares of Prime Medicine by 5.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 774,001 shares of the company's stock worth $2,260,000 after acquiring an additional 41,000 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company's stock.

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.