Q3 EPS Estimates for Prime Medicine Boosted by HC Wainwright

Key Points

• HC Wainwright raised Prime Medicine’s Q3 2026 EPS estimate to a loss of $0.28 per share from $0.29, while maintaining a Buy rating and $8.00 price target. Analysts still expect the company to remain unprofitable through 2030.
• Prime Medicine reported a quarterly loss of $0.24 per share, matching consensus, but revenue of $1.15 million fell well short of the $4.40 million analyst estimate.
• The stock opened at $3.26, and institutional investors own 70.37% of shares; major new positions included Alphabet’s approximately $61.1 million stake and BlackRock’s approximately $35.4 million stake.

Prime Medicine, Inc. (NASDAQ:PRME - Free Report) - Stock analysts at HC Wainwright raised their Q3 2026 earnings estimates for Prime Medicine in a report released on Monday, August 10th. HC Wainwright analyst A. He now forecasts that the company will earn ($0.28) per share for the quarter, up from their prior estimate of ($0.29). HC Wainwright has a "Buy" rating and a $8.00 price objective on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($0.99) per share. HC Wainwright also issued estimates for Prime Medicine's Q4 2026 earnings at ($0.32) EPS, FY2026 earnings at ($1.11) EPS, Q2 2027 earnings at ($0.23) EPS, FY2027 earnings at ($0.91) EPS, FY2028 earnings at ($0.92) EPS, FY2029 earnings at ($0.96) EPS and FY2030 earnings at ($0.81) EPS.

Several other research firms have also recently issued reports on PRME. Wall Street Zen upgraded Prime Medicine from a "strong sell" rating to a "sell" rating in a report on Saturday. Citigroup reissued a "market outperform" rating on shares of Prime Medicine in a report on Monday, June 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Prime Medicine in a research note on Wednesday, June 3rd. TD Cowen reiterated a "buy" rating on shares of Prime Medicine in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group set a $6.00 price objective on Prime Medicine in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.53.

Prime Medicine Stock Up 3.5%

PRME opened at $3.26 on Wednesday. Prime Medicine has a twelve month low of $2.67 and a twelve month high of $6.94. The company has a 50-day moving average price of $3.27 and a 200 day moving average price of $3.47. The company has a market cap of $591.30 million, a PE ratio of -3.08 and a beta of 2.31.

Prime Medicine (NASDAQ:PRME - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.24). The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $4.40 million. Prime Medicine had a negative net margin of 4,613.11% and a negative return on equity of 156.84%.

Institutional Investors Weigh In On Prime Medicine

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alphabet Inc. purchased a new stake in shares of Prime Medicine in the 2nd quarter valued at approximately $61,116,000. BlackRock Inc. acquired a new stake in shares of Prime Medicine during the 2nd quarter worth approximately $35,432,000. State Street Corp raised its position in shares of Prime Medicine by 293.0% during the 4th quarter. State Street Corp now owns 5,095,510 shares of the company's stock valued at $17,681,000 after buying an additional 3,798,884 shares during the period. Vanguard Group Inc. lifted its holdings in Prime Medicine by 35.7% in the third quarter. Vanguard Group Inc. now owns 4,921,865 shares of the company's stock valued at $27,267,000 after acquiring an additional 1,294,355 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Prime Medicine by 6,426.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,124,362 shares of the company's stock valued at $10,842,000 after acquiring an additional 3,076,489 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Key Prime Medicine News

Here are the key news stories impacting Prime Medicine this week:

• Positive Sentiment: Prime Medicine announced that it is advancing PM577 into a first-in-human clinical study for Wilson disease. Progress toward human testing could improve investor confidence in the company’s prime-editing platform and pipeline. Prime Medicine Advances First-in-Human Prime Editing Trial in Wilson Disease
• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $8.00 price target for PRME, substantially above the stock’s referenced $3.26 price. The continued bullish rating provides a positive analyst signal despite ongoing losses. HC Wainwright Reaffirms Buy Rating for Prime Medicine
• Positive Sentiment: HC Wainwright raised its FY2026 EPS forecast from a loss of $1.17 to a loss of $1.11 and improved its FY2028 forecast from a loss of $1.01 to $0.92 per share, suggesting modestly better long-term cost or earnings expectations in those periods.
• Neutral Sentiment: HC Wainwright made only minor adjustments to several forecasts, including a slightly better Q3 2026 estimate of a $0.28 loss, but maintained expectations for continued losses through 2030. The changes are unlikely to materially alter the near-term valuation story.
• Neutral Sentiment: The reported short-interest data showed zero shares sold short both before and after the measurement period, making the figures unusable for identifying meaningful short-covering or short-squeeze pressure.
• Negative Sentiment: HC Wainwright lowered its estimates for Q2 2027, Q4 2026, FY2027, FY2029 and FY2030. The largest revisions were FY2029, to a $0.96 loss from $0.85, and FY2030, to a $0.81 loss from $0.67, reinforcing concerns about prolonged cash burn and delayed profitability.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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