Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Benitec Biopharma (BNTC – Research Report), retaining the price target of $28.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the promising clinical progress of Benitec Biopharma’s lead candidate, BB-301. The company has successfully advanced its Phase 1b/2a trial, with positive results in improving swallowing function and reducing dysphagic symptoms in patients with oculopharyngeal muscular dystrophy. The absence of severe adverse events further supports the potential of BB-301.
Additionally, Benitec Biopharma’s financial performance has been better than expected, with a narrower net loss than forecasted, and a strong cash position that is expected to support operations for the next 18 to 24 months. The valuation, based on a discounted cash flow model, suggests a favorable outlook with a 12-month price target of $28 per share. However, Selvaraju acknowledges risks such as potential delays in clinical progress and regulatory challenges.
In another report released on May 15, Citizens JMP also maintained a Buy rating on the stock with a $20.00 price target.