Precision BioSciences upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded Precision BioSciences (DTIL) to Outperform from Market Perform with an unchanged price target of $34 alter iECURE announced clinical data in ornithine transcarbamylase using Precision’s in vivo gene editor. The data appear “very promising,” providing early clinical validation for Arcus, the analyst tells investors in a research note. As such, BMO sees a 65% probability for Precisions in vivo hepatitis B virus program to deliver acceptable safety and strong efficacy, driving 100%-200% upside in the shares. It believes Precision’s risk/reward is favorable at current share levels.