BMO Capital analyst Kostas Biliouris maintained a Buy rating on Prime Medicine, Inc. yesterday and set a price target of $10.00.
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Kostas Biliouris has given his Buy rating due to a combination of factors that highlight the potential of Prime Medicine, Inc.’s innovative gene editing technology. The company has recently secured additional funding from the Cystic Fibrosis Foundation, totaling $39 million, which underscores the promise of its prime editing platform and preclinical data in cystic fibrosis. This financial backing, along with the impressive 90% editing efficiency achieved in the second patient treated ex vivo, reduces the risk associated with PRME’s platform and enhances its credibility.
Biliouris also points out that Prime Medicine’s programs targeting Wilson’s disease and alpha-1 antitrypsin deficiency are on track for clinical filings by mid-2026, with promising preclinical results. The company’s ability to produce full-length proteins and deliver them effectively without the risks associated with viral vectors positions it favorably in the gene editing landscape. Furthermore, the high specificity and versatility of prime editing differentiate it from other approaches, suggesting broader applicability and potential partnerships that could drive growth. These factors collectively contribute to the Buy rating, reflecting optimism about the company’s future prospects.
In another report released on July 7, JonesTrading also maintained a Buy rating on the stock with a $5.00 price target.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRME in relation to earlier this year.