In a report released today, Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Precision BioSciences, with a price target of $60.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors related to Precision BioSciences’ promising advancements in gene editing therapies. The company presented compelling Phase 1 data for its PBGENE-HBV therapy, which is designed to target and edit HBV viral DNA. This therapy demonstrated significant antiviral effects, including measurable declines in hepatitis B surface antigen across all participants, with the highest dose showing rapid reductions within 14 days.
Additionally, the safety profile of PBGENE-HBV was favorable, with no serious adverse events or dose-limiting toxicities observed, supporting further dose escalation. The therapy’s ability to directly modify viral DNA, as evidenced by biopsy data, marks a significant milestone in HBV treatment. These developments, along with plans for further clinical trials, underpin Trucchio’s confidence in the company’s potential, justifying the Buy rating and a price target of $60.
In another report released on November 3, JonesTrading also maintained a Buy rating on the stock with a $30.00 price target.