HC Wainwright Upgrades Prime Medicine to 'Buy' with $8 Target
HC Wainwright & Co. raised its price target on Prime Medicine, Inc. to $8.00 and upgraded the stock to 'buy', a 116.80% upside from the current price.
Key Points
- HC Wainwright raised its price target for Prime Medicine, Inc. (PRME) to $8.00 and upgraded the stock to 'buy' on June 29, 2026.
- HC Wainwright's $8 price target implies 116.80% upside from Prime Medicine, Inc.'s ($PRME) current $3.69 share price.
- Shares of NasdaqGM:PRME traded near $3.72 on Wednesday, with a market cap of about $666.5 million and a beta of 2.314.
- Prime Medicine insiders, including Kaye Foster-Cheek and David Schenkein, bought 75,000 shares each on June 5, 2026.
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HC Wainwright & Co. has upgraded Prime Medicine, Inc. (NasdaqGM:PRME) to a 'buy' rating and set a new price target of $8.00. This change, announced on June 29, 2026, reflects a positive outlook for the biotechnology company.
HC Wainwright & Co. vs. the S&P 500
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Prime Medicine, Inc. Stock Up 2.2%
Shares of Prime Medicine traded near $3.72 on Wednesday. The company, with a market cap of approximately $666.5 million, operates in the biotechnology sector. It currently has no meaningful P/E ratio due to a lack of profitability, but it has a forward P/E of -4.4. The stock's 52-week range is between $2.28 and $6.94, with a 50-day moving average of $3.27 and a 200-day moving average of $3.94. Prime Medicine's beta is 2.314, indicating higher volatility compared to the market.
$PRME price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Insider Buying and Selling at Prime Medicine, Inc.
Several insiders at Prime Medicine made notable purchases earlier this month. On June 5, 2026, Kaye Foster-Cheek, David Schenkein, Jeffrey Marrazzo, Robert Nelsen, Wendy Chung, and Thomas Cahill each acquired 75,000 shares. These transactions were not part of any pre-arranged trading plan.
Analysts Set New Price Targets
On June 29, 2026, HC Wainwright & Co. upgraded Prime Medicine to a 'buy' rating with a price target of $8.00. This follows Oppenheimer's initiation of coverage with a 'buy' rating and an $11.00 target on March 12, 2026. The consensus among analysts is a 'buy' rating, with an average price target of $7.02 based on 10 analyst opinions.
About Prime Medicine, Inc.
Prime Medicine, Inc. is a biotechnology firm based in Cambridge, Massachusetts. The company focuses on developing genetic medicines using gene editing technology to treat various diseases. Its lead products include PM359 for Chronic Granulomatous Disease, PM577 for Wilson Disease, and PM647 for genetic disorders related to the SERPINA1 gene. Prime Medicine collaborates with organizations like BMS, the Cystic Fibrosis Foundation, and the Broad Institute.
Bottom Line
HC Wainwright's upgrade and new price target for Prime Medicine highlight positive expectations for the company's future. Investors often track analyst ratings to gauge market sentiment, though it's important to remember that these are forward-looking statements. Prime Medicine's recent insider buying activity and analyst coverage suggest growing interest in the company's prospects.
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