Leerink Partners analyst Mani Foroohar has maintained their bullish stance on BNTC stock, giving a Buy rating yesterday.
Mani Foroohar’s rating is based on the promising data from Benitec Biopharma’s Phase 1/2 trial of BB-301, which targets dysphagia in patients with oculopharyngeal muscular dystrophy. The trial results showed significant improvement in swallowing function, as evidenced by the Total Pharyngeal Residue and Sydney Swallow Questionnaire scores, with some patients achieving a clinically normal swallowing profile.
Additionally, the safety profile of BB-301 remains favorable, with no serious adverse events reported among the patients treated at the low dose. The potential for a straightforward path to an approvable profile, combined with the high unmet medical need in this area and the limited current treatment options, supports the Buy rating. Looking forward, the commencement of higher-dose trials and regulatory updates could further accelerate the development timeline.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 7 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.