In a report released today, Soumit Roy from JonesTrading maintained a Buy rating on Precision BioSciences (DTIL – Research Report), with a price target of $30.00.
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Soumit Roy has given his Buy rating due to a combination of factors that highlight Precision BioSciences’ potential in the healthcare sector. The company’s decision to fully develop their in vivo gene editing asset for Duchenne Muscular Dystrophy (DMD) rather than seeking partnerships indicates strong confidence in its potential. The FDA’s Rare Pediatric Disease Designation for PBGENE-DMD further underscores the promise of their approach.
Additionally, Precision’s ARCUS gene editing technology is anticipated to demonstrate long-lasting clinical benefits with minimal safety concerns, which could be validated by upcoming data from their Phase 1 ELIMINATE-B trial. The recent acquisition of Verve Therapeutics by Eli Lilly highlights the interest of large pharmaceutical companies in programs with de-risked clinical data, suggesting a favorable environment for Precision. The company’s innovative multi-exon excision strategy could address a significant portion of DMD cases, positioning them as a strong contender in the market.
Roy covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Nuvation Bio, and Enliven Therapeutics. According to TipRanks, Roy has an average return of -25.6% and a 18.62% success rate on recommended stocks.