Prime Medicine initiated with a Buy at JonesResearch

JonesResearch analyst Justin Walsh initiated coverage of Prime Medicine with a Buy rating and $20 price target. Prime is a preclinical stage biotechnology company developing a broad pipeline of potentially curative gene therapy assets that make use of prime editing technology developed by Dr. Liu, Dr. Anzalone, and Dr. Liu’s laboratory at the Broad Institute, the analyst tells investors in a research note. The firm believes the market is not fully appreciating and pricing in the potential within the company’s broader pipeline.