Research analysts at HC Wainwright began coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a report issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $21.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 41.80% from the stock’s previous close.
The analysts wrote, “Our $21 price target is derived from a risk-adjusted, sum-of-the-parts analysis that drives our 13-year DCF model. Our DCF is based on: beta of 1.6, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 8.5%, and tax rate of 15% beginning in FY 2028. Our $21 price target remains leveraged on the outcome of for which we assign a 25% and 10% POS, respectively, given their IND-ready status. These two assets represent approximately 73% of our rNPV, i.e., $15 per share.””
A number of other analysts also recently weighed in on the company. Barclays started coverage on GENFIT S A/ADR in a research report on Monday, April 22nd. They issued an “overweight” rating and a $55.00 target price for the company. Goldman Sachs Group downgraded DXC Technology from a “conviction-buy” rating to a “buy” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. downgraded Ciena from a “neutral” rating to an “underweight” rating in a research report on Monday, April 22nd. Finally, Jefferies Financial Group boosted their price objective on Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $23.00.
NASDAQ:DTIL opened at $14.81 on Tuesday. The stock has a 50 day moving average price of $13.45. Precision BioSciences has a 1-year low of $11.77 and a 1-year high of $19.00.
Precision BioSciences (NASDAQ:DTIL) last released its earnings results on Monday, April 29th. The company reported ($1.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.80). The company had revenue of $5.46 million during the quarter, compared to the consensus estimate of $5.94 million. On average, analysts expect that Precision BioSciences will post -1.59 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. FMR LLC bought a new stake in Precision BioSciences in the first quarter valued at approximately $67,102,000. Laurion Capital Management LP bought a new stake in Precision BioSciences in the first quarter valued at approximately $9,295,000. Janus Henderson Group PLC bought a new stake in Precision BioSciences in the first quarter valued at approximately $8,975,000. Vivo Capital LLC bought a new stake in Precision BioSciences in the first quarter valued at approximately $5,035,000. Finally, Sphera Funds Management LTD. bought a new stake in Precision BioSciences in the first quarter valued at approximately $4,039,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.
About Precision BioSciences
Precision BioSciences, Inc operates as a genome editing company and develops therapeutic products in the United States. It operates through two segments, Therapeutic and Food. The company offers ARCUS, a genome editing platform to cure cancers and genetic disorders. The Therapeutic segment develops allogeneic CAR T immunotherapy that recognizes and kills cancer cells; and engages in the in vivo gene correction activities.
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