H.C. Wainwright raised the firm’s price target on Benitec Biopharma (BNTC) to $35 from $28 and keeps a Buy rating on the shares. The company reported “highly positive” interim data reported from the first six patients to receive BB-301, the analyst tells investors in a research note. The firm says all six patients in the ongoing Phase 1b/2a trial met the formal statistical criteria for positive response in the proprietary oculopharyngeal muscular dystrophy responder analysis. H.C. Wainwright increased BB-301’s probability of approval to 45% from 40%.
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