Precision BioSciences (DTIL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Soumit Roy from JonesTrading maintained a Buy rating on the stock and has a $30.00 price target.
Soumit Roy has given his Buy rating due to a combination of factors related to Precision BioSciences’ promising advancements in gene editing technology. The company’s ARCUS platform has demonstrated the capability to perform essential gene editing tasks, which positions it favorably in the competitive Duchenne muscular dystrophy (DMD) space.
Furthermore, recent preclinical data presented at the MDA Conference showed that Precision’s PBGENE-DMD treatment restored functional dystrophin protein and improved muscle function in a humanized DMD mouse model. This suggests a potential for long-lasting efficacy, which could address the high unmet needs in the DMD market. Additionally, the anticipated clinical Phase 1 data for chronic hepatitis B virus (HBV) in 2025 could further validate the platform’s effectiveness, potentially opening up business development opportunities for Precision BioSciences.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.