Chardan Capital Increases Prime Medicine (NYSE:PRME) Price Target to $16.00

Prime Medicine (NYSE:PRME) had its price target lifted by Chardan Capital from $15.00 to $16.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on PRME. JMP Securities assumed coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target for the company. Guggenheim restated a “buy” rating and issued a $18.00 price target on shares of Prime Medicine in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. Finally, Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

Prime Medicine Stock Performance

Shares of NYSE PRME opened at $1.95 on Thursday. The stock has a market cap of $255.76 million, a P/E ratio of -0.95 and a beta of 1.85. The firm has a 50 day moving average price of $2.56 and a 200 day moving average price of $3.19. Prime Medicine has a 52-week low of $1.65 and a 52-week high of $8.27.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter in the previous year, the business posted ($2.18) EPS. Analysts predict that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Prime Medicine

Several large investors have recently modified their holdings of PRME. American Century Companies Inc. acquired a new stake in Prime Medicine in the 4th quarter valued at $33,000. Nisa Investment Advisors LLC raised its stake in Prime Medicine by 11,474.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after acquiring an additional 12,507 shares during the period. XTX Topco Ltd bought a new stake in Prime Medicine in the 4th quarter valued at about $42,000. Paloma Partners Management Co bought a new stake in Prime Medicine in the 3rd quarter valued at about $45,000. Finally, AXQ Capital LP bought a new stake in Prime Medicine in the 4th quarter valued at about $45,000. 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.