HC Wainwright initiated coverage on shares of Precision BioSciences (NASDAQ:DTIL) in a research report sent to investors on Tuesday, AnalystRatings.com reports. The firm issued a buy rating and a $21.00 price target on the stock.
“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.”,” HC Wainwright’s analyst commented.
Several other equities research analysts have also recently issued reports on the stock. Goldman Sachs Group cut shares of DXC Technology from a conviction-buy rating to a buy rating in a report on Monday, April 22nd. Jefferies Financial Group raised their target price on shares of Constellation Brands from $267.00 to $275.00 and gave the stock a top pick rating in a report on Monday, April 22nd. JPMorgan Chase & Co. cut shares of Ciena from a neutral rating to an underweight rating in a report on Monday, April 22nd. Finally, Barclays assumed coverage on shares of GENFIT S A/ADR in a report on Monday, April 22nd. They issued an overweight rating and a $55.00 target price on the stock. Five research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and a consensus target price of $23.00.
DTIL stock traded up $0.28 on Tuesday, hitting $15.10. The company had a trading volume of 22,298 shares, compared to its average volume of 238,584. Precision BioSciences has a 12-month low of $11.77 and a 12-month high of $19.00. The company has a 50-day moving average of $13.48.
Precision BioSciences (NASDAQ:DTIL) last issued its earnings results on Monday, April 29th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.80). The company had revenue of $5.46 million for the quarter, compared to the consensus estimate of $5.94 million. On average, analysts predict that Precision BioSciences will post -1.57 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in shares of Precision BioSciences during the 1st quarter worth $67,102,000. Laurion Capital Management LP purchased a new position in shares of Precision BioSciences during the 1st quarter worth $9,295,000. Janus Henderson Group PLC purchased a new position in shares of Precision BioSciences during the 1st quarter worth $8,975,000. Vivo Capital LLC purchased a new position in shares of Precision BioSciences during the 1st quarter worth $5,035,000. Finally, Sphera Funds Management LTD. purchased a new position in shares of Precision BioSciences during the 1st quarter worth $4,039,000. Institutional investors and hedge funds own 39.39% of the company’s stock.
Precision BioSciences Company Profile
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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