Prime Medicine (NYSE:PRME) Issues Quarterly Earnings Results

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

Prime Medicine Price Performance

NYSE:PRME opened at $2.40 on Friday. The business has a 50 day moving average of $2.80 and a 200 day moving average of $3.36. The company has a market capitalization of $314.79 million, a price-to-earnings ratio of -1.17 and a beta of 1.85. Prime Medicine has a 1-year low of $2.12 and a 1-year high of $8.58.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PRME shares. JMP Securities started coverage on Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price for the company. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a report on Monday, March 3rd. StockNews.com raised Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. Guggenheim reaffirmed a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prime Medicine currently has an average rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Company Profile

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.