Analyst Soumit Roy from JonesTrading maintained a Buy rating on Precision BioSciences and keeping the price target at $30.00.
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Soumit Roy has given his Buy rating due to a combination of factors surrounding Precision BioSciences’ ongoing clinical trials and promising data. The company is currently focusing on higher dose cohorts in their Phase 1 chronic HBV trial, with the aim of achieving durable responses. Despite some challenges with antigen levels returning to baseline in a couple of patients, the management is optimistic that higher doses or adjusted dosing intervals could address these issues.
Moreover, the safety profile of the PBGENE-HBV treatment appears favorable, with no cumulative toxicities observed and only transient liver enzyme elevations. Precision BioSciences is also advancing into a new cohort with potentially higher doses, which aligns with successful non-human primate studies showing significant antigen reduction. These strategic moves and the ongoing collection of molecular data to understand treatment effects further support the positive outlook for Precision BioSciences’ stock.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.