FY2024 EPS Estimate for Prime Medicine Decreased by Analyst

by · The Markets Daily

Prime Medicine, Inc. (NYSE:PRME – Free Report) – Equities research analysts at HC Wainwright reduced their FY2024 earnings estimates for Prime Medicine in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. He now expects that the company will earn ($1.69) per share for the year, down from their previous estimate of ($1.68). HC Wainwright currently has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.75) per share. HC Wainwright also issued estimates for Prime Medicine’s Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.30) EPS, Q4 2025 earnings at ($0.31) EPS, FY2025 earnings at ($1.33) EPS, FY2026 earnings at ($1.39) EPS, FY2027 earnings at ($1.39) EPS and FY2028 earnings at ($1.16) EPS.

Other equities analysts also recently issued reports about the company. Chardan Capital reduced their target price on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a report on Thursday. Finally, Wedbush restated an “outperform” rating and issued a $12.00 target price on shares of Prime Medicine in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

View Our Latest Stock Report on Prime Medicine

Prime Medicine Stock Down 9.2 %

Shares of Prime Medicine stock opened at $3.60 on Friday. The firm has a market cap of $471.52 million, a PE ratio of -1.75 and a beta of 2.09. Prime Medicine has a fifty-two week low of $3.28 and a fifty-two week high of $9.86. The business’s fifty day moving average is $3.88 and its two-hundred day moving average is $5.03.

Institutional Trading of Prime Medicine

Large investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its stake in shares of Prime Medicine by 19.8% during the first quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after purchasing an additional 2,520 shares in the last quarter. Squarepoint Ops LLC lifted its position in Prime Medicine by 6.5% during the 2nd quarter. Squarepoint Ops LLC now owns 63,461 shares of the company’s stock worth $326,000 after acquiring an additional 3,895 shares in the last quarter. ORG Partners LLC purchased a new position in Prime Medicine in the 2nd quarter worth approximately $29,000. National Bank of Canada FI acquired a new stake in Prime Medicine in the second quarter valued at approximately $34,000. Finally, Levin Capital Strategies L.P. raised its stake in shares of Prime Medicine by 32.5% during the first quarter. Levin Capital Strategies L.P. now owns 26,500 shares of the company’s stock valued at $186,000 after purchasing an additional 6,500 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

About Prime Medicine

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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.

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