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On Thursday, Benitec BioPharma (NASDAQ:BNTC), currently trading at $13.58, maintained its Market Outperform rating and a $20.00 price target from analysts at Citizens JMP. The affirmation comes after a positive assessment of clinical updates regarding the company’s ongoing research. The stock has shown remarkable momentum, delivering a 53.45% return over the past year. According to InvestingPro data, analyst targets range from $17 to $35, suggesting potential upside from current levels.
The analysts’ confidence was bolstered by results presented during the MDA update in March, where Benitec BioPharma showcased consistent improvements in patients suffering from a genetic condition. Notably, three patients, two of whom have been followed up for 12 months and one for 3 months, showed progress regardless of the nature of their disease manifestation. With a market capitalization of $346.21 million and a strong balance sheet showing more cash than debt, the company appears well-positioned to advance its clinical programs.
The company has successfully dosed all six patients in the low-dose cohort of its study without safety concerns. An update on this cohort is expected in the fourth quarter of 2025. There is speculation that the findings might be presented at the World Muscle Conference, but it’s considered more likely that the update will occur during a corporate event later in the year.
Benitec BioPharma is also preparing to commence enrollment for the high-dose cohort of BB-301 later in 2025. Validating the safety of this high-dose treatment is seen as a crucial step forward for the company’s research endeavors.
The analysts’ reiterated rating and price target reflect a continued endorsement of Benitec BioPharma’s potential in developing treatments for genetic diseases. The next significant milestone for the company will be the anticipated update on the low-dose cohort and the initiation of the high-dose cohort study.
In other recent news, Benitec Biopharma has reported encouraging developments in its Phase 1b/2a clinical trial for the BB-301 gene therapy, aimed at treating Oculopharyngeal Muscular Dystrophy (OPMD). The company shared that the first two subjects maintained significant improvements in swallowing function 12 months post-treatment, while a third subject showed similar improvements three months after treatment. These findings were presented at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference. Additionally, Benitec successfully completed its stock and warrant offerings, raising significant capital to support its research and development efforts. The offerings, managed by Leerink Partners LLC and TD Securities (USA) LLC, resulted in an increase in outstanding common stock and warrants, enhancing the company’s financial flexibility. In another development, Benitec entered into a Registration Rights Agreement with Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd., facilitating future stock resale. JMP Securities raised Benitec’s stock price target to $20, maintaining a Market Outperform rating, following positive clinical outcomes in the BB-301 program. H.C. Wainwright also reaffirmed a Buy rating with a $28 price target, citing ongoing progress in the BB-301 clinical trial. These updates reflect Benitec’s strategic efforts in advancing its gene therapy program and strengthening its financial position.
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