Chardan Capital Forecasts Prime Medicine FY2025 Earnings

Prime Medicine, Inc. (NYSE:PRME) – Chardan Capital issued their FY2025 EPS estimates for Prime Medicine in a research note issued to investors on Monday, March 10th. Chardan Capital analyst G. Livshits forecasts that the company will post earnings per share of ($1.25) for the year. Chardan Capital currently has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.68) per share.

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

A number of other brokerages have also recently commented on PRME. Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a report on Friday, February 28th. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. Guggenheim reiterated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a report on Tuesday, December 3rd. JMP Securities initiated coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Prime Medicine Trading Down 9.9 %

Shares of NYSE PRME opened at $1.72 on Thursday. The stock has a market capitalization of $225.60 million, a PE ratio of -0.84 and a beta of 1.85. Prime Medicine has a twelve month low of $1.71 and a twelve month high of $8.27. The stock has a fifty day simple moving average of $2.72 and a 200-day simple moving average of $3.29.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vestal Point Capital LP boosted its position in shares of Prime Medicine by 137.8% in the 3rd quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock valued at $4,141,000 after purchasing an additional 620,000 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Prime Medicine by 96.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company’s stock worth $2,579,000 after acquiring an additional 433,653 shares during the last quarter. Walleye Capital LLC raised its position in Prime Medicine by 272.5% in the 4th quarter. Walleye Capital LLC now owns 403,739 shares of the company’s stock valued at $1,179,000 after purchasing an additional 295,365 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Prime Medicine by 4.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,977,828 shares of the company’s stock valued at $11,616,000 after purchasing an additional 170,541 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Prime Medicine during the 4th quarter worth $423,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

About Prime Medicine

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.