Benitec Biopharma initiated with an Overweight at Piper Sandler

Piper Sandler analyst Yasmeen Rahimi initiated coverage of Benitec Biopharma with an Overweight rating and $30 price target. The company has a strong probability of sucess for gene therapy BB-301 and its first patient data “effectively de-risks the program, backed by comprehensive pre-clinical data,” the analyst tells investors in a research note. The firm says the oculopharyngeal muscular dystrophy landscape is “empty and BB-301 goes after the root cause.”