Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Precision BioSciences (DTIL – Research Report). The associated price target remains the same with $30.00.
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Soumit Roy has given his Buy rating due to a combination of factors, primarily revolving around Precision BioSciences’ promising approach to treating chronic Hepatitis B through gene editing. The company’s innovative method of targeting the viral DNA directly in the liver offers a potential cure, moving beyond traditional lifelong drug therapies. The initial data shows promising results with significant reductions in Hepatitis B surface antigen levels in patients, suggesting that the gene-editing therapy is effective.
The ongoing trial results, which include further dosage and patient data, are expected to provide more insight into the therapy’s efficacy. The non-human primate models have shown a substantial viral DNA reduction with multiple doses, and the human trials are anticipated to mirror these results. Precision BioSciences’ financial standing, with sufficient cash reserves and a manageable cash burn rate, further supports the positive outlook. Collectively, these factors contribute to a favorable assessment of the stock’s future performance.
Roy covers the Healthcare sector, focusing on stocks such as Chimerix, Enliven Therapeutics, and Oric Pharmaceuticals. According to TipRanks, Roy has an average return of -23.3% and a 18.79% success rate on recommended stocks.