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.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRME:
- Prime Medicine, Inc.: Hold Rating Amid Strategic Restructuring and Long-term Uncertainty
- Prime Medicine downgraded to Neutral from Overweight at JPMorgan
- Prime Medicine price target lowered to $12 from $16 at Chardan
- Prime Medicine Appoints New CEO Amid Restructuring
- Prime Medicine, Inc.: Strategic Shifts and Leadership Changes Bolster Long-term Buy Rating Amid Near-term Volatility