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花旗集团升级Prime Medicine的估值和管道
2024-05-16 23:23
- Citi has upgraded Prime Medicine (NASDAQ:PRME) to buy from hold citing its current stock price and recent U.S. FDA Investigational New Drug clearance for a candidate to treat chronic granulomatous disease.
- The firm has a $10 price target (~48% upside based on May 16 close).
- Analyst Samantha Semenkow said that while several pipeline assets are still years from entering the clinic, "we find it encouraging that many are advancing into lead optimization or IND-enabling studies over the next ~12-24 months." She added the company has a cash runway to last into H2 2025.
- Although the stock has rallied of late, she noted it is still down ~24% year to date and ~20% since Citi began coverage in December.
- Semenkow added that business development efforts could also bear fruit. "We understand from speaking with management that conversations for potential partnerships, collaborations, and/or in-licensing transactions are ongoing."
More on Prime Medicine
- FDA clears Prime Medicine to begin gene therapy clinical testing
- Seeking Alpha’s Quant Rating on Prime Medicine
- Historical earnings data for Prime Medicine
- Financial information for Prime Medicine
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