JMP Securities analyst Silvan Tuerkcan has maintained their bullish stance on PRME stock, giving a Buy rating yesterday.
Silvan Tuerkcan’s rating is based on several promising developments at Prime Medicine, Inc. The company is advancing its lead asset, PM359, which is an ex-vivo HSC-based therapy aimed at correcting a point mutation responsible for chronic granulomatous disease (CGD). The anticipated release of First-in-Human (FiH) Prime Editing data in CGD this year is expected to invigorate interest in the gene editing sector, supported by updates from peers in the field.
Additionally, Prime Medicine is exploring opportunities in Wilson’s Disease, which presents a significant market due to its large patient population. The company’s financial position is strong, with operational expenses covered into the first half of 2026, supported by a cash balance of $205 million. The PM359 program has received rare pediatric and orphan drug designations, and its Phase 1/2 trial is underway, with data expected in 2025. These factors collectively support the Buy rating, highlighting the potential for near-term value creation and addressing unmet medical needs.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 price target.