Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Precision BioSciences (DTIL – Research Report). The associated price target remains the same with $60.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including promising preclinical data and the potential of Precision BioSciences’ ARCUS nucleases. The company has presented new preclinical results for its PBGENE-DMD program, which targets Duchenne muscular dystrophy (DMD) using in vivo gene editing. These results demonstrated significant and durable expression of dystrophin, a critical protein for muscle function, and restored muscle function in a humanized DMD mouse model.
Trucchio highlights the potential of the PBGENE-DMD program to benefit up to 60% of DMD patients, as it employs two complementary ARCUS nucleases delivered via a single muscle-targeted viral vector. The treated mice showed improvements in muscle resilience and force output, suggesting long-term benefits. The valuation of Precision BioSciences is based on a discounted cash flow and sum-of-the-parts methodology, leading to a price target of $60, despite risks associated with clinical development and market factors.
Trucchio covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Altimmune, and Beam Therapeutics. According to TipRanks, Trucchio has an average return of -2.6% and a 30.25% success rate on recommended stocks.
In another report released on March 14, JonesTrading also maintained a Buy rating on the stock with a $30.00 price target.