Prime Medicine initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of Prime Medicine (PRME) with an Outperform rating and $10 price target Prime is a clinical-stage biotechnology company focused on prime editing-based therapies, which enable editing, correcting, inserting, and deleting DNA sequences for an unprecedented range of tissues and genes, the analyst tells investors in a research note. The firm says this unlocks several indications not covered by other editing technologies. JMP views the current share price as supported by the Wilson’s disease program alone, leaving “much of the pipeline value as upside.”