Prime Medicine’s (PRME) “Buy” Rating Reiterated at HC Wainwright

Prime Medicine (NYSE:PRME)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 468.18% from the company’s previous close.

A number of other research firms have also commented on PRME. StockNews.com raised Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. JMP Securities assumed coverage on Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of Prime Medicine in a research report on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Prime Medicine in a research report on Monday, March 3rd. Finally, Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Prime Medicine Trading Up 0.6 %

NYSE PRME opened at $1.76 on Wednesday. Prime Medicine has a 1-year low of $1.65 and a 1-year high of $8.27. The stock has a 50-day moving average of $2.62 and a 200-day moving average of $3.22. The firm has a market cap of $230.84 million, a PE ratio of -0.86 and a beta of 1.85.

Prime Medicine (NYSE:PRME) last released its quarterly earnings results on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same quarter last year, the company earned ($2.18) earnings per share. As a group, equities research analysts forecast that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRME. American Century Companies Inc. purchased a new stake in shares of Prime Medicine in the 4th quarter worth approximately $33,000. Paloma Partners Management Co purchased a new stake in shares of Prime Medicine in the 3rd quarter worth approximately $45,000. Nisa Investment Advisors LLC grew its stake in shares of Prime Medicine by 11,474.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock worth $37,000 after buying an additional 12,507 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Prime Medicine in the 3rd quarter worth approximately $55,000. Finally, XTX Topco Ltd purchased a new stake in shares of Prime Medicine in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors 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.