H.C. Wainwright keeps USD 8.00 target for Prelude Therapeutics stock

Published on 10/16/2026 at 02:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lilly supplies two drugs for PRT13722 Phase 1 combinations. For Prelude Therapeutics stock, FDA clearance supports fourth-quarter 2026 enrollment.

Clinical milestones and finances

On October 14, 2026, H.C. Wainwright reiterated its USD 8.00 target.
Patient enrollment is planned for the fourth quarter of 2026.
Second-quarter 2026 revenue reached USD 5.70 million.

PRLD, US74065P1012, Illustration mit AI erstellt.

H.C. Wainwright reiterated a Buy rating and a USD 8.00 price target for Prelude Therapeutics on October 14, 2026, according to Investing.com. The analyst update followed Prelude's October 13 collaboration with Eli Lilly on a Phase 1 breast cancer trial.

Lilly deal advances PRT13722

According to Prelude Therapeutics, the agreement gives the company access to Lilly's abemaciclib and imlunestrant for combination cohorts evaluating PRT13722, an oral KAT6A selective degrader. The company expects enrollment to begin in the fourth quarter of 2026, starting with monotherapy dose escalation before combination testing.

The FDA had cleared Prelude's Investigational New Drug application for PRT13722 by October 13, 2026. That regulatory step moves the program from preclinical evidence toward first-in-human testing, while the Lilly supply agreement supports the planned combination design.

What does the USD 8.00 target imply?

H.C. Wainwright's USD 8.00 target is 140.96 percent above the USD 3.32 last price for PRLD on Nasdaq at 4:00 p.m. ET on October 15, 2026. The comparison uses the target cited by Investing.com and the dated Nasdaq quote.

Three milestones frame the pipeline

Prelude reported second-quarter 2026 revenue of USD 5.70 million and diluted earnings per share of minus USD 0.14, compared with a consensus loss of USD 0.20 per share, according to The Cerbat Gem. The earnings comparison supplies a financial counterweight to the clinical narrative.

In chronological order, Prelude reported those second-quarter figures on August 11, 2026. It received FDA clearance for PRT13722 on September 10, 2026, and announced the Lilly collaboration on October 13, 2026, with each milestone tied to the planned Phase 1 program.

Next milestone is fourth-quarter enrollment

The next stated milestone is patient enrollment in the fourth quarter of 2026. For investors, the key test is whether early clinical execution can convert the Lilly-supported combination strategy into human data while the company continues funding its precision-oncology pipeline.

Nasdaq quote and company value

Prelude had a market capitalization of USD 192.2 million and a 52-week range of USD 1.16 to USD 6.83 as of October 15, 2026. The last Nasdaq quote of USD 3.32 placed the stock below its yearly high, while the USD 8.00 analyst target keeps valuation expectations centered on clinical progress rather than current product revenue.