Brokers Offer Predictions for Prime Medicine FY2029 Earnings

Prime Medicine, Inc. (NYSE:PRME - Free Report) - Wedbush issued their FY2029 EPS estimates for shares of Prime Medicine in a research note issued on Tuesday, March 18th. Wedbush analyst D. Nierengarten expects that the company will earn ($1.27) per share for the year. Wedbush has a "Outperform" rating and a $13.00 price objective on the stock. The consensus estimate for Prime Medicine's current full-year earnings is ($1.68) per share.

Several other equities research analysts also recently commented on the company. StockNews.com raised Prime Medicine to a "sell" rating in a report on Tuesday, February 11th. Guggenheim reaffirmed a "buy" rating and set a $18.00 price objective on shares of Prime Medicine in a research note on Tuesday, December 3rd. Chardan Capital raised their target price on shares of Prime Medicine from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $10.00 price target on shares of Prime Medicine in a report on Wednesday, March 19th. Finally, Citizens Jmp raised shares of Prime Medicine to a "strong-buy" rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Prime Medicine presently has an average rating of "Moderate Buy" and an average target price of $13.38.

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Prime Medicine Price Performance

Shares of NYSE:PRME traded down $0.08 on Friday, reaching $1.95. 752,772 shares of the company traded hands, compared to its average volume of 1,118,803. The stock has a market capitalization of $255.76 million, a PE ratio of -0.95 and a beta of 1.85. The company's 50 day moving average is $2.53 and its 200-day moving average is $3.16. Prime Medicine has a fifty-two week low of $1.65 and a fifty-two week high of $8.27.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PRME. ProShare Advisors LLC grew its holdings in shares of Prime Medicine by 24.6% during the 4th 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. grew its stake 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 in the last quarter. Levin Capital Strategies L.P. increased its position 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 worth $219,000 after purchasing an additional 5,000 shares during the last quarter. PEAK6 Investments LLC raised its stake in shares of Prime Medicine by 32.4% during the 3rd quarter. PEAK6 Investments LLC now owns 45,013 shares of the company's stock worth $174,000 after purchasing an additional 11,013 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Prime Medicine during the 4th quarter valued at about $33,000. Institutional investors and hedge funds 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.