Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Precision BioSciences. 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 related to Precision BioSciences’ ongoing clinical trials and strategic developments. The company is set to present updated data from its Phase 1 ELIMINATE-B trial at the AASLD conference, which includes promising follow-up data from the first two cohorts. This data is expected to provide insights into the efficacy and safety of their treatment for chronic Hepatitis B, with particular attention to liver enzyme levels and the potential for a functional cure.
Additionally, Precision BioSciences is advancing into a third cohort, which is anticipated to explore a higher dosage within the therapeutic window. The company’s approach to setting higher thresholds for liver enzyme fluctuations aligns with FDA guidelines and suggests a favorable safety profile. Furthermore, Precision is actively collecting biopsy data to better understand the molecular effects of their treatment, which could further validate their approach and support long-term efficacy. These factors collectively contribute to the positive outlook and Buy rating assigned by Soumit Roy.
In another report released on October 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DTIL in relation to earlier this year.