Prime Medicine, Inc. (PRME – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Samantha Semenkow from Citi downgraded the rating on the stock to a Hold and gave it a $1.50 price target.
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Samantha Semenkow’s rating is based on several factors impacting Prime Medicine, Inc. The company’s shares are currently trading near cash value, reflecting market uncertainties about its potential for value growth. Although the prime editing technology is seen as highly versatile and initial clinical data is promising, the company’s financial runway only supports operations until the first half of 2026, which is before expected clinical data in 2027.
To improve its financial position, Prime Medicine plans to pursue business development deals that could provide non-dilutive capital, extending its operational runway. However, until such deals are realized, the financial risks remain significant. Consequently, the revenue model has been adjusted to focus on Wilson’s Disease and AATD, with a reduced target price, leading to the Hold rating.
According to TipRanks, Semenkow is an analyst with an average return of -21.5% and a 25.26% success rate. Semenkow covers the Healthcare sector, focusing on stocks such as Argenx Se, Catalyst Pharma, and Larimar Therapeutics.