Buy Rating Affirmed for Prime Medicine, Inc. on Robust Preclinical Data and Prime Editing Technology Prospects

In a report released today, Kostas Biliouris from BMO Capital maintained a Buy rating on Prime Medicine, Inc. (PRME – Research Report), with a price target of $19.00.

Kostas Biliouris has given his Buy rating due to a combination of factors including the strength of Prime Medicine, Inc.’s preclinical data and the promising attributes of their prime editing technology. In particular, the safety profile across all programs appears clean regardless of the delivery vehicle used, indicating a robust platform with a high chance of success in clinical trials. The anticipation of clinical de-risking of prime editing in 2025 also plays a fundamental role in this optimistic assessment.
Further reinforcing the Buy rating is the impressive preclinical data for PM359, which exhibits key properties that meet FDA standards for ex vivo gene editing products. This includes high viability, purity, potency, and editing efficiency of edited cells. Additionally, Biliouris notes the potential for near-term partnerships and key catalysts in the gene editing space to drive upside, while the mid-term de-risking of Prime Medicine’s platform should fuel growth. This comprehensive analysis positions Prime Medicine, Inc. as a strong investment opportunity in the biotechnology sector.

Biliouris covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Legend Biotech, and Prime Medicine, Inc.. According to TipRanks, Biliouris has an average return of -4.0% and a 33.33% success rate on recommended stocks.

In another report released on May 7, Jefferies also assigned a Buy rating to the stock with a $15.00 price target.

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Prime Medicine, Inc. (PRME) Company Description:

Prime Medicine Inc is a biotechnology company committed to delivering genetic therapies to address diseases by deploying gene editing technology, Prime Editing. The Prime Editing technology is a next-generation technology that can search and replace to restore normal genetic function in the genome and can treat a wide spectrum of diseases with high unmet medical needs.