Chardan Capital upgraded shares of Prime Medicine (NASDAQ:PRME – Free Report) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.
Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Prime Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. New Street Research set a $8.00 price objective on shares of Prime Medicine in a research report on Monday, June 29th. Citigroup reaffirmed a “market outperform” rating on shares of Prime Medicine in a research note on Monday, June 22nd. The Goldman Sachs Group set a $6.00 target price on shares of Prime Medicine in a research report on Monday, June 22nd. Finally, TD Cowen reissued a “buy” rating on shares of Prime Medicine in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Prime Medicine presently has an average rating of “Buy” and an average price target of $7.47.
View Our Latest Report on PRME
Prime Medicine Stock Performance
Prime Medicine (NASDAQ:PRME – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.24) EPS for the quarter, hitting analysts’ consensus estimates of ($0.24). The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $4.40 million. Prime Medicine had a negative return on equity of 188.27% and a negative net margin of 4,613.11%. As a group, research analysts predict that Prime Medicine will post -0.95 EPS for the current fiscal year.
Hedge Funds Weigh In On Prime Medicine
Hedge funds have recently added to or reduced their stakes in the company. Alphabet Inc. bought a new stake in Prime Medicine during the 2nd quarter worth about $61,116,000. BlackRock Inc. acquired a new position in Prime Medicine during the 2nd quarter valued at about $35,432,000. State Street Corp boosted its stake in shares of Prime Medicine by 293.0% in the 4th quarter. State Street Corp now owns 5,095,510 shares of the company’s stock valued at $17,681,000 after purchasing an additional 3,798,884 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Prime Medicine by 6,426.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,124,362 shares of the company’s stock valued at $10,842,000 after purchasing an additional 3,076,489 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Prime Medicine during the 3rd quarter worth approximately $16,634,000. Institutional investors own 70.37% of the company’s stock.
About Prime Medicine
We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.
Read More
- Five stocks we like better than Prime Medicine
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Receive News & Ratings for Prime Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prime Medicine and related companies with MarketBeat.com's FREE daily email newsletter.
