Prime Medicine (NYSE:PRME) Releases Quarterly Earnings Results

Prime Medicine (NYSE:PRME) issued its earnings results on Friday. The company reported ($1.65) earnings per share (EPS) for the quarter, RTT News reports. During the same quarter in the prior year, the company earned ($2.18) EPS.

Prime Medicine Trading Up 4.3 %

NYSE:PRME opened at $2.40 on Friday. Prime Medicine has a 1-year low of $2.12 and a 1-year high of $8.58. The stock’s 50-day moving average is $2.80 and its 200-day moving average is $3.36. The stock has a market cap of $314.79 million, a P/E ratio of -1.17 and a beta of 1.85.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PRME. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a report on Monday, March 3rd. Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a report on Friday, February 28th. JMP Securities began coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Guggenheim restated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

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.