Citizens JMP Reiterates Market Outperform Rating on Prelude Therapeutics (PRLD)

Citizens JMP analyst Reni Benjamin reiterated a Market Outperform rating and $4.00 price target on Prelude Therapeutics (NASDAQ: PRLD).

The analyst commented, “Prelude reported 4Q24 financial results and provided corporate updates, including PRT3789 data. With two assets advancing through the clinic, initial PRT3789 monotherapy demonstrating modest efficacy, with a potential path forward as a combination agent, and a cash position of $133.6MM, we believe Prelude shares represent a unique investment opportunity, with ~85% potential downside (bear case $0) and ~646% potential upside (bull case $5).”

Also, “We view PRT3789 as a potential combination agent and await 2H25 data readouts before reevaluating our market models. That said, we are intrigued with the objective responses seen in patients with upper tract GI tumors and look forward to data from more patients.”

For an analyst ratings summary and ratings history on Prelude Therapeutics click here. For more ratings news on Prelude Therapeutics click here.

Shares of Prelude Therapeutics closed at $0.66 yesterday.

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