JonesTrading analyst Soumit Roy maintained a Buy rating on Prime Medicine, Inc. (PRME – Research Report) today and set a price target of $5.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Soumit Roy’s rating is based on the promising potential of Prime Medicine’s prime editing technology, which offers advantages over base editing by avoiding bystander edits and enabling all possible base-to-base conversions without a DNA template or double-strand breaks. This technological edge positions Prime Medicine as a strong candidate for future acquisition, especially as they progress towards clinical data announcements for their Wilson Disease and AATD programs expected in 2027.
Furthermore, the recent acquisition of Verve by Lilly for $1.3 billion underscores the growing interest in gene editing technologies for broader market diseases, validating the potential of companies like Prime Medicine. The collaboration with BMS to develop prime edited ex vivo T-cell therapies further enhances Prime Medicine’s strategic positioning in the gene editing landscape, making it an attractive investment opportunity at its current valuation.
Roy covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Enliven Therapeutics, and Nuvation Bio. According to TipRanks, Roy has an average return of -26.2% and a 17.84% success rate on recommended stocks.