Prime Medicine, Inc. Expected to Earn Q4 2024 Earnings of ($0.28) Per Share (NYSE:PRME)

Prime Medicine, Inc. (NYSE:PRME) – Stock analysts at Wedbush boosted their Q4 2024 earnings per share (EPS) estimates for shares of Prime Medicine in a research report issued on Monday, September 30th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.28) per share for the quarter, up from their previous forecast of ($0.39). Wedbush currently has a “Outperform” rating and a $12.00 price target on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.76) per share. Wedbush also issued estimates for Prime Medicine’s Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.27) EPS, FY2025 earnings at ($1.11) EPS, FY2026 earnings at $0.21 EPS, FY2027 earnings at ($1.17) EPS and FY2028 earnings at ($1.23) EPS.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.06).

Several other research firms have also commented on PRME. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research note on Friday, August 9th. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.11.

Prime Medicine Trading Down 10.9 %

NYSE:PRME opened at $3.45 on Wednesday. Prime Medicine has a 12 month low of $3.39 and a 12 month high of $9.86. The stock has a 50 day moving average of $4.27 and a two-hundred day moving average of $5.46. The firm has a market cap of $414.11 million, a P/E ratio of -1.59 and a beta of 2.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of Prime Medicine during the second quarter worth $29,000. National Bank of Canada FI purchased a new stake in shares of Prime Medicine during the second quarter worth $34,000. Nisa Investment Advisors LLC increased its position in shares of Prime Medicine by 22,652.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock worth $40,000 after acquiring an additional 7,702 shares during the period. Chelsea Counsel Co. increased its position in shares of Prime Medicine by 733.3% during the fourth quarter. Chelsea Counsel Co. now owns 5,000 shares of the company’s stock worth $44,000 after acquiring an additional 4,400 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Prime Medicine during the second quarter worth $97,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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.