Wedbush Estimates Prime Medicine FY2029 Earnings

Prime Medicine, Inc. (NYSE:PRME) – Research analysts at Wedbush issued their FY2029 EPS estimates for shares of Prime Medicine in a research report issued on Tuesday, March 18th. Wedbush analyst D. Nierengarten expects that the company will post earnings per share of ($1.27) for the year. Wedbush has a “Outperform” rating and a $13.00 price target on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.68) per share.

Prime Medicine (NYSE:PRME) last issued its earnings results on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same period in the prior year, the firm posted ($2.18) EPS.

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

Prime Medicine Stock Performance

Shares of NYSE PRME opened at $1.95 on Friday. The firm has a market capitalization of $255.76 million, a P/E ratio of -0.95 and a beta of 1.85. Prime Medicine has a one year low of $1.65 and a one year high of $8.27. The company’s fifty day moving average is $2.56 and its two-hundred day moving average is $3.19.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRME. American Century Companies Inc. acquired a new position in Prime Medicine in the 4th quarter valued at about $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 purchasing an additional 12,507 shares during the last quarter. XTX Topco Ltd acquired a new position in Prime Medicine in the 4th quarter valued at about $42,000. Paloma Partners Management Co acquired a new position in shares of Prime Medicine during the 3rd quarter valued at about $45,000. Finally, AXQ Capital LP acquired a new position in shares of Prime Medicine during 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.