Benitec Biopharma initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Benitec Biopharma with an Outperform rating and $35 price target Benitec’s proprietary “silence and replace” DNA-directed RNA interference platform, a combination between gene therapy and RNAi, permanently silences disease-causing genes while restoring healthy expression, with lead asset BB-301 in Phase 1b/2a studies for ocular pharyngeal muscular dystrophy, the analyst tells investors in a research note. Oppenheimer notes that no treatments have yet been approved for OPMD, which highlights a significant unmet need and opportunity for BB-301 as the first of its kind. The firm sees Benitec flying under the radar compared to other gene therapies and sees significant upside potential over the next 12-18 months.