Prime Medicine initiated with a Buy at Chardan

Chardan initiated coverage of Prime Medicine with a Buy rating and $17 price target. The says the company has demonstrated its prime editing platform can precisely correct pathogenic mutations in multiple preclinical systems. The firm sees potential for Prime’s technology to drive durable efficacy in serious genetic diseases. Chardan believes the company’s chronic granulomatous disease and liver programs have a high chance of technical success based on translatability patterns in these modalities, the robust data in key preclinical models, and unmet need.