Benitec Biopharma, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $35.00 price target.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Ram Selvaraju has given his Buy rating due to a combination of factors including the promising interim data from the Phase 1b/2a trial of BB-301. The trial results showed that all patients in Cohort 1 met the statistical criteria for a positive response, reversing the progressive worsening of symptoms observed prior to treatment. This improvement in patients’ ability to swallow and overall swallowing capacity suggests a strong potential for BB-301 to have a significant therapeutic impact.
Furthermore, these results enhance the possibility of productive regulatory interactions and an accelerated path to market, possibly through conditional or accelerated approval. The data also supports moving forward to Cohort 2 to evaluate higher doses, and if the improvements are sustained, BB-301 could command premium pricing. The long-term prospects appear favorable, with the potential for progressive improvement over time, leading to an increased probability of approval. Consequently, the price target has been raised to $35, reflecting these positive developments.
According to TipRanks, Selvaraju is a 5-star analyst with an average return of 23.3% and a 51.40% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $22.00 price target.