Piper Sandler Reiterates Overweight Rating on Benitec BioPharma (BNTC)

Piper Sandler analyst Yasmeen Rahimi reiterated an Overweight rating and $30.00 price target on Benitec BioPharma (NASDAQ: BNTC).

The analyst commented, "If you are new to BNTC, we think now is the time to take a look with a de-risked and potentially curative asset in hand that has shown robust swallowing improvement across two distinct OPMD phenotypes (residue accumulation and sequential swallowing). As such, we had the opportunity to host BNTC for a fireside chat to review the recent Subject 2 data (note) that demonstrated almost complete resolution of low-volume sequential swallowing and achieved an SSQ score of clinically normal swallowing. With this, it is crucial to recognize the wide open market opportunity of ~15K OPMD patients, no competition, and BB-301's potentially curative efficacy with two dosed patients and ~20+ in the queue. As such, we believe BNTC is a hidden gem with a transformative therapy with the potential to not only improve but also cure OPMD dysphagia symptomology with clean safety and significant patient and physician support."

For an analyst ratings summary and ratings history on Benitec BioPharma click here. For more ratings news on Benitec BioPharma click here.

Shares of Benitec BioPharma closed at $11.22 yesterday.

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