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Investing.com - Citizens has reiterated its Market Outperform rating and $3.00 price target on Prelude Therapeutics (NASDAQ:PRLD), following the company’s third-quarter 2025 earnings report. The target represents nearly 100% upside from the current price of $1.51, with analysts’ targets ranging from $3.00 to $5.00.
The clinical-stage biopharmaceutical company has sharpened its pipeline focus on JAK2V617F and KAT6A targets, according to Citizens. Prelude also secured a $60 million exclusive option deal with Incyte (NASDAQ:INCY). This strategic move has contributed to PRLD’s impressive 26.89% return over the last week and 46.6% over the past year, according to InvestingPro data.
Citizens views this restructuring as positive for shareholders, noting it represents a decisive shift toward a focused strategy targeting high-value, clinically-validated assets with clear paths to differentiation.
Both of Prelude’s key programs are expected to enter clinical trials in 2026, according to the research note issued Thursday.
The company reported a pro forma cash position of $124.3 million, which Citizens believes provides adequate runway for its development programs. InvestingPro analysis shows Prelude holds more cash than debt on its balance sheet with a healthy current ratio of 3.21, though it is quickly burning through cash. The stock appears slightly undervalued based on InvestingPro’s Fair Value assessment. For deeper insights and 10+ additional ProTips on PRLD, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Prelude Therapeutics announced its third-quarter 2025 earnings, showing an unexpected improvement in its earnings per share (EPS). The EPS was reported at -$0.26, surpassing the analysts’ forecast of -$0.3697. Additionally, the company reported revenue of $6.5 million, though no prior forecast was available for comparison. These developments indicate a positive shift in Prelude Therapeutics’ financial performance. The company’s stock price remained steady following the earnings announcement. There were no mergers or acquisitions reported in this period. Analyst upgrades or downgrades were also not mentioned in the recent reports. These are the latest updates concerning Prelude Therapeutics.
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