Why Did Prime Medicine Soar 11.57%?

On May 15, 2025, Prime Medicine's stock surged by 11.57% in pre-market trading, reflecting a significant bullish sentiment among investors.

Analysts have shown a strong positive outlook on Prime Medicine, with several price targets set above the current stock price. Soumit Roy from JonesTrading reiterated a Buy rating and set a price target of $9.00. Additionally, Chardan raised its price target to $16 from $15, indicating confidence in the company's future performance.

The consensus rating for Prime Medicine is "Strong Buy," with an average price target of $13.17, which is significantly higher than the current price. This optimistic outlook is driven by the company's promising clinical data and favorable market conditions.

Prime Medicine's recent IPO terms, which could value the biotech at up to $1.7 billion, have also contributed to the positive market sentiment. The company's strong fundamentals and potential for growth have attracted investor attention, leading to the recent surge in stock price.