Precision BioSciences price target raised to $30 from $2 at BTIG

BTIG analyst Justin Zelin raised the firm’s price target on Precision BioSciences to $30 from $2 and keeps a Buy rating on the shares. Given the reset to the company’s pipeline, investors are not appreciating its rapid move towards the clinic via in-house and partnered in-vivo editing programs with clinical data expected over the next 12-18 months, the analyst tells investors in a research note. Precision BioScience’s iECURE partnered program for OTC deficiency is expected to treat its first patients by April, with initial data seen in the second half of 2024, and its wholly owned PBGENE-HBV program is expected to treat its first patients in a Phase 1 study as early as year-end 2024, with early safety and efficacy data in the first half of 2025, the firm added.