Citizens JMP has revised its price target for Benitec Biopharma (BNTC, Financial), increasing it from $18 to $20, while maintaining an Outperform rating for the company's shares. The decision follows Benitec's presentation of encouraging data from their BB-301 trial.
In the trial, two patients exhibited consistent improvements in swallowing function at the 12-month mark. Furthermore, a newly added third subject also showed positive outcomes after three months, including a complete resolution of pathologic swallowing issues. These promising results have reinforced confidence in the BB-301 program's effectiveness.
The sustained improvements across various measures of swallowing ability and patient feedback support the continued optimism in Benitec's therapeutic approach. These developments have likely influenced Citizens JMP's upgraded outlook on the company's stock.
