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Investing.com - Benitec Biopharma (NASDAQ:BNTC) received a reiterated Market Outperform rating and $20.00 price target from JMP Securities on Wednesday. According to InvestingPro data, analyst targets for the $347 million market cap company range from $17 to $30.
JMP maintained its positive outlook on the gene therapy company following Benitec’s quarterly update, which highlighted progress in its first-in-human oculopharyngeal muscular dystrophy (OPMD) trial. The company maintains a strong financial position with more cash than debt and a robust current ratio of 54.67.
The company reported completion of dosing in the low-dose cohort of the OPMD trial, representing a significant milestone in its clinical development program.
JMP views Benitec’s upcoming fourth quarter fiscal 2025 update as a "key catalyst" that will double the available patient data from three to six patients, potentially validating the company’s "silence and replace strategy" in OPMD.
The $20 price target, derived from discounted cash flow analysis, reflects JMP’s "favorable outlook" on Benitec’s therapeutic approach and clinical progress.
In other recent news, Benitec BioPharma has made significant strides in its clinical trial efforts. The company announced that its Phase 1b/2a clinical trial for BB-301, a gene therapy treatment for Oculopharyngeal Muscular Dystrophy (OPMD), has been approved to continue after a positive safety review. This approval follows the completion of the first cohort, where six subjects were treated with a low dose of BB-301. An independent Data Safety Monitoring Board recommended the trial’s continuation, allowing Benitec to advance to the next phase. Meanwhile, JMP Securities has reiterated its Market Outperform rating for Benitec, maintaining a $20.00 price target due to the company’s progress with BB-301. The firm highlighted the localized delivery method and modified AAV9 capsid, which have shown no safety signals in the ongoing study. Additionally, TD Cowen has initiated coverage of Benitec with a Buy rating, emphasizing the company’s innovative DNA-directed "Silence and Replace" platform. These developments reflect growing confidence in Benitec’s gene therapy approach for treating OPMD.
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