'Differentiated Gene Editing Platform' For Precision Bio: BMO
- BMO Capital Markets initiated the coverage on Precision BioSciences Inc with an Outperform rating and a price target of $7.
- The analyst said the thesis is based on:
- The company's proprietary gene-editing platform, whose mechanism is differentiated in a CRISPR-dominated space, offers several advantages.
- A diversified pipeline.
- Asymmetric risk/reward skewed to the upside.
- The analyst says that Precision's mechanism of action appears safer than competitors. Its smaller size allows for delivery with viral and non-viral systems.
- Preclinical data demonstrate a favorable benefit/risk profile.
- The company also entered into a collaboration agreement with Eli Lilly And Co , further validating the platform's potential.
- BMO believes that Precision's platform can deliver competitive clinical data.
- The analyst said, "Precision's valuation currently does not account for the in vivo platform, derisking the platform in the clinic via clean safety and sufficient efficacy in 2023 or beyond can drive more than 100% upside for the stock."
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