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Investing.com - JMP Securities maintained its Market Outperform rating and $20.00 price target on Benitec BioPharma (NASDAQ:BNTC) stock, currently trading at $13.98 with a market cap of $367M. According to InvestingPro data, the stock has delivered an impressive 71% return over the past year.
The firm expressed confidence in BB-301, Benitec’s treatment for OPMD, citing the localized delivery method and modified AAV9 capsid that has shown no safety signals in the six patients currently enrolled in the ongoing study. The company maintains strong financial health with a robust current ratio of 14.8 and minimal debt-to-equity of 0.01.
JMP noted that all patients in the study have demonstrated a benefit from the treatment, which is delivered via direct injection into the pharyngeal constrictor muscles at an E13 vg/kg concentration range.
Benitec plans to begin enrollment for the high-dose cohort in its OPMD study during the second half of 2025, with potential updates on the six patients in the low-dose cohort expected before the end of this year.
JMP recommends the stock based on the anticipated update, which it believes could highlight the therapy’s durability and represents a significant derisked catalyst for investors. The company’s next earnings report is scheduled for September 23, 2025.
In other recent news, Benitec BioPharma has made significant progress in its clinical trials and received analyst attention. The company announced that it has completed the first cohort in its Phase 1b/2a clinical trial for BB-301, a gene therapy treatment for Oculopharyngeal Muscular Dystrophy (OPMD). Following a safety review, the trial has been approved to continue enrollment, moving to the next phase. JMP Securities maintained its Market Outperform rating for Benitec BioPharma, citing the company’s advancements with BB-301 and its plans to initiate the high-dose cohort of the therapy. Additionally, TD Cowen initiated coverage on Benitec BioPharma with a Buy rating, emphasizing the potential of the company’s DNA-directed "Silence and Replace" platform. These developments reflect growing confidence in Benitec’s innovative approach to gene therapy.
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