Benitec Biopharma price target raised to $20 from $13 at Leerink

Leerink raised the firm’s price target on Benitec Biopharma to $20 from $13 and keeps an Outperform rating on the shares following the company’s presentation at the Annual Congress of the World Muscle Society and associated webcast this weekend. The firm raised its estimates of the launch price of BB-301 to $650,000 from $425,000 to reflect early evidence of disease reversal seen in this update, adding that this price would still be “well below many approved gene therapies.”