"Benitec BioPharma (BNTC) Receives Outperform Rating and $13 Price Target: Latest Updates on BB-301 Gene Therapy for OPMD Patients Revealed - World Muscle Society Annual Congress Presentation Set for October 12th in Prague"
Leerink Partners has maintained an Outperform rating and a $13.00 price target for Benitec BioPharma following the company's fourth-quarter 2024 results and updates on its pipeline. Benitec's BB-301 gene therapy for oculopharyngeal muscular dystrophy (OPMD) has shown promising interim data with no serious adverse events reported. The company is set to present at the World Muscle Society Annual Congress, summarizing the ongoing study's clinical data.
The financial model for Benitec has been updated by Leerink, leading to the reiteration of the Outperform rating and $13 price target. Recent developments include sustained improvements in swallowing function in a patient post-treatment with BB-301, as well as a $40 million private investment by Suvretta Capital, resulting in the appointment of Kishen Mehta to the Board of Directors. Analysts from Piper Sandler and JMP Securities have expressed confidence in Benitec, maintaining their ratings and price targets.
Investors should be aware of Benitec's financial performance, as the company's revenue has declined significantly, raising concerns about funding ongoing research and development activities. Despite this, the stock price total return has been strong, indicating investor optimism. It is essential for investors to consider the company's cash runway and potential future capital raises when evaluating their investment.
For a more in-depth analysis of Benitec's financials and stock performance, additional insights and metrics can be found on InvestingPro's platform. Stay informed to make well-informed investment decisions for your financial future.
