Citizens Lifts Benitec Biopharma Inc. (BNTC) Price Target on Topline Results for Oculopharyngeal Muscular Dystrophy Treatment

Benitec Biopharma Inc. (NASDAQ:BNTC) is one of the best breakout stocks to invest in. On November 4, an analyst at Citizens JMP raised the stock’s price target to $22 from $20 while reiterating an Outperform rating. The price target hike follows topline clinical data results that showed a 100% response rate for BB-301 in Phase 1b/2a of the treatment for Oculopharyngeal Muscular Dystrophy (OPMD), a rare genetic muscle-wasting disease. The US Food and Drug Administration has already granted the company Fast Track designation for the gene therapy following the positive interim results.  In the trials, the treatment successfully reduced swallowing difficulties in patients and shortened the time required to consume liquids.

“We are excited by the profound effect that BB-301 can potentially have on this progressive disease as demonstrated by the interim clinical trial results for Cohort 1, where 100% of patients were responders” said Jerel A. Banks, M.D., Ph.D., Executive Chairman and Chief Executive Officer of Benitec Biopharma Inc. “Securing Fast Track designation for BB-301 reflects the strength of our clinical data and the urgency of the unmet need in OPMD. “

Meanwhile, on November 11, Suvretta Capital Management and related entities announced a $20 million investment in Benitec Biopharma. Benitec Biopharma Inc. (NASDAQ:BNTC) is a clinical-stage biotechnology company that develops novel genetic medicines using its proprietary DNA-directed RNA interference (ddRNAi) platform. Its platform combines gene therapy and RNA interference to create treatments that silence disease-causing genes and simultaneously replace them with functional, wild-type genes after a single administration. While we acknowledge the potential of BNTC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best AI Stocks to Buy Under $20 and Top 6 Steel Stocks to Buy Amid US Tariffs. Disclosure: None. This article is originally published at Insider Monkey.