Prime Medicine, Inc. (PRME – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Silvan Tuerkcan from JMP Securities maintained a Buy rating on the stock and has a $10.00 price target.
Silvan Tuerkcan’s rating is based on Prime Medicine, Inc.’s promising advancements in their novel liver-targeting program for treating alpha-1 antitrypsin deficiency (AATD). The company has unveiled a second Prime Editing-based program, which is expected to progress to clinical trials by mid-2026. This program has shown significant potential, with early preclinical data indicating up to 72% correction in the AAT gene in hepatocytes, translating to a 95% correction of the mutant Z-AAT protein.
Prime Medicine’s approach offers potential differentiation from competitors like Beam Therapeutics, particularly in its ability to express the original missing protein without editing base pairs within the guide RNA window. Additionally, the company’s proprietary lipid nanoparticle (LNP) technology may allow for higher tolerable doses, potentially achieving best-in-class editing efficacy. Despite being a few years behind Beam’s clinical candidate, the large market for AATD supports multiple genetic therapeutics, and Prime Medicine’s optimized Prime Editing technology could provide a significant advantage.
In another report released yesterday, JonesTrading also maintained a Buy rating on the stock with a $14.00 price target.