JonesTrading analyst Soumit Roy maintained a Buy rating on Precision BioSciences (DTIL – Research Report) today and set a price target of $30.00.
Soumit Roy’s rating is based on Precision BioSciences’ innovative approach to treating chronic hepatitis B virus (cHBV) infections. The company’s proprietary ARCUS technology aims to target and eliminate cccDNA, which is a crucial step towards achieving a functional cure for cHBV, a condition that has seen little advancement in treatment over the past two decades.
The initial results from Precision’s Phase 1 ELIMINATE-B trial are promising, with two out of three patients showing significant reductions in HBsAg levels after receiving a low-dose monotherapy. This reduction is critical as it is rarely achieved with current standard treatments, which only manage to control the disease without eliminating the virus. The potential for Precision’s treatment to offer a functional cure addresses a significant unmet need for the 20% of patients who are not satisfied with existing therapies, making the stock a compelling buy according to Roy.