Preclinical-Phase Firm Prime Medicine's Gene Editing Platform Has Potential: Analyst
Portfolio Pulse from Vandana Singh
BMO Capital Markets has initiated coverage on Prime Medicine Inc (NASDAQ:PRME), a preclinical-stage company developing therapies based on prime editing. The analyst, Kostas Biliouris, has given an Outperform rating with a price target of $19, citing the high specificity and versatility of prime editing. Prime's pipeline includes diversified therapies targeting different tissues and delivered via distinct methods, reducing overall risk. The company's lead program aims to provide a gene editing therapy for chronic granulomatous disease (CGD), with an IND filing planned for 2024.
October 09, 2023 | 6:19 pm
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Prime Medicine Inc has received an Outperform rating from BMO Capital Markets, with a price target of $19. The company's prime editing technology and diversified therapies are seen as strengths.
The Outperform rating and price target of $19 from BMO Capital Markets indicate a positive outlook for Prime Medicine Inc. The company's prime editing technology and diversified therapies are seen as strengths, reducing overall risk and potentially leading to substantial growth. This could positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100