Q3 2024 EPS Estimates for Prime Medicine, Inc. Retrieved by Wedbush (NYSE:PRME)

Prime Medicine, Inc. (NYSE:PRME – Free Report) – Analysts at Wedbush lowered their Q3 2024 earnings estimates for shares of Prime Medicine in a research report issued to clients and investors on Thursday, August 8th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.46) per share for the quarter, down from their prior estimate of ($0.41). Wedbush presently has an “Outperform” rating and a $12.00 target price on the stock. The consensus estimate for Prime Medicine’s current full-year earnings is ($1.64) per share. Wedbush also issued estimates for Prime Medicine Q4 2024 Earnings at ($0.39) EPS, FY2024 Earnings at ($1.74) EPS, Q1 2025 Earnings at ($0.39) EPS, for Q2 2025 at ($0.40) EPS at ($0.40 e $3025) , Q4 2025 earnings at ($0.39) EPS, FY 2025 earnings at ($1.57) EPS, FY2026 earnings at ($1.55) EPS and FY27 earnings at ($1.57) EPS.

Prime Medicine (NYSE:PRME – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.06).

Several other equities analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 target price (down previously from $23.00) on shares of Prime Medicine in a research note on Tuesday, May 7th. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Prime Medicine from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Citigroup upgraded shares of Prime Medicine from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Moderate Buy” and an average price target of $15.09, according to MarketBeat.

Read our latest report on Prime Medicine

Prime Medicine trading down 1.7%

Shares of NYSE PRME opened at $4.13 on Monday. Prime Medicine has a 1 year low of $3.99 and a 1 year high of $13.60. The company has a 50 day moving average of $5.82 and a two hundred day moving average of $6.40. The company has a market cap of $495.13 million, a PE ratio of -1.90 and a beta of 2.21.

Hedge funds weigh in on early drugs

A number of institutional investors have recently bought and sold shares of PRME. Greenwich Wealth Management LLC boosted its position in Prime Medicine by 13.0% in the second quarter. Greenwich Wealth Management LLC now owns 653,001 shares of the company’s stock worth $3,356,000 after buying an additional 75,000 shares during the period. National Bank of Canada FI purchased a new stake in shares of Prime Medicine during the second quarter valued at about $34,000. Rhumbline Advisers boosted its holdings in shares of Prime Medicine by 33.5% in the second quarter. Rhumbline Advisers now owns 70,107 shares of the company’s stock worth $360,000 after purchasing an additional 17,595 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Prime Medicine in the second quarter valued at about $97,000. Finally, ARK Investment Management LLC boosted its holdings in Prime Medicine by 2.2% in the second quarter. ARK Investment Management LLC now owns 6,126,773 shares of the company’s stock valued at $31,492,000 after acquiring an additional 133,419 shares during the period. Institutional investors and hedge funds own 70.37% of the company’s shares.

About Prime Medicine

(Get a free report)

Prime Medicine, Inc, a biotechnology company, provides gene therapies to address the spectrum of diseases by implementing gene editing technology. The company offers Prime Editors with a Prime Editor protein, which comprises 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 to make the desired editing of the target DNA sequence.

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