Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Precision BioSciences (DTIL – Research Report) and keeping the price target at $60.00.
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Patrick Trucchio’s rating is based on encouraging initial clinical data for Precision BioSciences’ PBGENE-HBV, which marks the first clinical proof-of-concept for an in vivo gene editing approach in chronic hepatitis B (CHB). The data from the Phase 1 trial demonstrated substantial antiviral activity with a reduction in hepatitis B surface antigen (HBsAg) in two out of three patients, without any significant adverse events, which supports further advancement of the PBGENE-HBV program and highlights the potential of Precision’s ARCUS platform.
Additionally, the trial’s design to evaluate multiple dose levels and administrations aims to optimize the therapeutic approach and underscores the promising safety profile expected to align with other lipid nanoparticle (LNP)-based treatments. The company’s valuation, based on a discounted cash flow and sum-of-the-parts analysis, supports a target price of $60, reflecting confidence in the company’s potential despite risks related to clinical development, commercialization, and market conditions.
Trucchio covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Sangamo Biosciences, and Cybin. According to TipRanks, Trucchio has an average return of 0.1% and a 34.43% success rate on recommended stocks.
In another report released today, JonesTrading also maintained a Buy rating on the stock with a $30.00 price target.