Prime Medicine, Inc. (NASDAQ:PRME) Stock Has Consensus Price Target of $7.86

Prime Medicine, Inc. (NASDAQ:PRME) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.86.

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Prime Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Jefferies Financial Group reissued a “market outperform” rating on shares of Prime Medicine in a research note on Monday, September 28th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Prime Medicine in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Prime Medicine in a research note on Monday, August 31st. Finally, BMO Capital Markets assumed coverage on Prime Medicine in a research note on Tuesday, August 18th. They set an “outperform” rating and a $9.00 target price on the stock.

Prime Medicine Price Performance

Shares of PRME opened at $4.27 on Wednesday. The business’s 50 day moving average is $3.70 and its 200 day moving average is $3.51. Prime Medicine has a 12-month low of $2.67 and a 12-month high of $5.91.

Prime Medicine (NASDAQ:PRME) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.21 million during the quarter. Prime Medicine had a negative net margin of 2,497.56% and a negative return on equity of 222.88%. As a group, sell-side analysts anticipate that Prime Medicine will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in Prime Medicine during the second quarter worth $3,621,000. BlackRock Inc. acquired a new position in shares of Prime Medicine in the second quarter worth about $35,432,000. Alphabet Inc. purchased a new stake in shares of Prime Medicine during the 2nd quarter worth about $61,116,000. Redmile Group LLC purchased a new stake in shares of Prime Medicine during the 1st quarter worth about $5,536,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Prime Medicine during the 2nd quarter valued at about $7,371,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine News Summary

These are some of the PRME news items that stood out recently:

• Positive Sentiment: Third-quarter revenue was about $4.2 million, above the cited FactSet estimate of $1.3 million. The loss of $0.22 per share was also narrower than the $0.23 consensus estimate and improved from a $0.32 loss a year earlier. Prime Medicine Reports Third Quarter 2026 Financial Results and Provides Business Updates
• Positive Sentiment: Prime Medicine closed a public offering that brought in approximately $143.7 million in gross proceeds. The added capital could help fund development of its Prime Editing programs across liver, lung, immunology and oncology. Prime Medicine Announces Closing of Public Offering
• Negative Sentiment: The offering involved 41.1 million new shares sold at $3.50 each, diluting existing shareholders and potentially creating near-term selling pressure. Offering details

About Prime Medicine

Prime Medicine is a biotechnology company developing genetic therapies for diseases caused by genetic mutations. Its research focuses on prime editing, a gene-editing technology designed to make targeted changes to DNA, including substitutions, insertions and deletions. The company is working to apply its platform to potential treatments for a range of serious conditions. Its programs are in development, and Prime Medicine does not currently market approved therapies. Founded in 2019, Prime Medicine is based in Cambridge, Massachusetts.