Wedbush Equities Analysts Increase Earnings Estimates for Prime Medicine, Inc. (NYSE:PRME)

Prime Medicine, Inc. (NYSE:PRME) – Equities researchers at Wedbush increased their Q4 2024 earnings per share estimates for shares of Prime Medicine in a report released on Monday, September 30th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.28) per share for the quarter, up from their prior estimate of ($0.39). Wedbush has a “Outperform” rating and a $12.00 price objective 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.

Other research analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a report on Wednesday. StockNews.com raised shares of Prime Medicine to a “sell” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.11.

Prime Medicine Stock Down 0.6 %

PRME opened at $3.41 on Wednesday. The firm has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $5.43. Prime Medicine has a 52 week low of $3.28 and a 52 week high of $9.86. The company has a market capitalization of $409.30 million, a PE ratio of -1.57 and a beta of 2.18.

Prime Medicine (NYSE:PRME) last released 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).

Institutional Trading of Prime Medicine

Several institutional investors have recently added to or reduced their stakes in PRME. ORG Partners LLC bought a new stake in Prime Medicine in the second quarter worth about $29,000. National Bank of Canada FI purchased a new position in shares of Prime Medicine during the second quarter worth approximately $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 position in shares of Prime Medicine during the second quarter worth approximately $97,000. Institutional investors own 70.37% of the company’s stock.

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.