TD Cowen analyst Ritu Baral has maintained their bullish stance on BNTC stock, giving a Buy rating on November 4.
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Ritu Baral has given her Buy rating due to a combination of factors including Benitec Biopharma’s strong financial position and promising clinical developments. The company has a substantial cash runway of approximately $182 million, which is expected to support its operations into 2028. This financial stability is crucial as it allows Benitec to continue advancing its ‘301 program without immediate financial constraints.
Additionally, the company’s engagement with the FDA to align on the pivotal trial design for ‘301 is a positive indicator of progress. The ongoing Phase 1b/2a trial for ‘301, which targets OPMD dysphagia, is supported by both objective and subjective measures, suggesting a comprehensive approach to evaluating its efficacy. These strategic and clinical advancements contribute to the optimistic outlook and justify the Buy rating.
In another report released on November 4, H.C. Wainwright also reiterated a Buy rating on the stock with a $35.00 price target.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BNTC in relation to earlier this year.