Prime Medicine (NYSE:PRME – Get Free Report) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has a $10.00 target price on the stock. Citigroup’s price target would indicate a potential upside of 41.24% from the stock’s previous close.
PRME has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Prime Medicine in a research report on Tuesday, April 23rd. TD Cowen assumed coverage on shares of Prime Medicine in a research report on Monday, April 8th. They set a “buy” rating on the stock. Guggenheim lowered their price target on shares of Prime Medicine from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Prime Medicine from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Prime Medicine has a consensus rating of “Moderate Buy” and an average target price of $15.60.
Get Our Latest Stock Analysis on Prime Medicine
Prime Medicine Price Performance
Prime Medicine stock opened at $7.08 on Thursday. The stock has a market cap of $849.81 million, a price-to-earnings ratio of -3.26 and a beta of 2.07. The firm has a 50-day moving average of $6.09 and a two-hundred day moving average of $7.18. Prime Medicine has a 1 year low of $4.11 and a 1 year high of $17.20.
Prime Medicine (NYSE:PRME – Get Free Report) last announced its quarterly earnings results on Friday, March 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.08). Research analysts expect that Prime Medicine will post -1.7 earnings per share for the current year.
Institutional Investors Weigh In On Prime Medicine
Several institutional investors have recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. raised its position in shares of Prime Medicine by 32.5% in the 1st quarter. Levin Capital Strategies L.P. now owns 26,500 shares of the company’s stock valued at $186,000 after purchasing an additional 6,500 shares during the last quarter. Redmile Group LLC lifted its stake in shares of Prime Medicine by 56.6% during the first quarter. Redmile Group LLC now owns 2,074,350 shares of the company’s stock worth $14,520,000 after buying an additional 750,000 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Prime Medicine by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock valued at $17,660,000 after buying an additional 301,431 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Prime Medicine in the 1st quarter valued at $1,115,000. Finally, Vanguard Group Inc. raised its stake in Prime Medicine by 43.1% in the 1st quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock worth $40,610,000 after acquiring an additional 1,746,534 shares during the last quarter. Institutional investors and hedge funds 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.
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Source: defenseworld.net
