Citizens JMP analyst Silvan Tuerkcan lowered the firm’s price target on Prime Medicine (PRME) to $6 from $10 and keeps an Outperform rating on the shares. Prime Medicine is focusing its efforts on high-value in-vivo opportunities, Wilson’s disease and Alpha-1 Antitrypsin Deficiency, and is making changes to management and the company, with Allain Reine taking over the CEO role from Keith Gottesdiener, who will remain as a consultant, while Jeff Marrazzo was appointed Executive Chair, the analyst tells investors in a research note. Citizens views the removal of Chronic Granulomatous Disease as a sensible decision, given the backdrop of ex-vivo cell therapy launches, large opex requirements, and the small patient population.
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Read More on PRME:
- Prime Medicine, Inc.: Hold Rating Amid Strategic Restructuring and Long-term Uncertainty
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- Prime Medicine Appoints New CEO Amid Restructuring
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